Nasdaq-Listed Lion Group to Build $600M HYPE Treasury

Lion Group Holding Ltd., a Hong Kong-based trading firm listed on Nasdaq, has secured a $600 million facility from ATW Partners to launch a digital asset treasury anchored in Hyperliquid (HYPE). The firm disclosed the deal on Wednesday, triggering a near 20% surge in its stock price.

The facility will bankroll LGHL’s shift toward on-chain finance with Hyperliquid, Solana (SOL), and Sui (SUI) forming the core of its reserve strategy. The initial tranche of $10.6 million in subscription funding is set to close within 48 hours.

BitGo Trust will custody and stake the SOL and SUI assets, providing institutional-grade security. “Hyperliquid represents a natural extension of LGHL's existing derivatives business into decentralized markets, and reflects our conviction that decentralized on-chain execution is the future of trading,” said CEO Wilson Wang.

The company also hinted at secondary listings in Tokyo and Singapore to globalize its new asset strategy. Lion Group also plans to relaunch its crypto operations, integrating cryptocurrency exposure into its current portfolio of exchange-traded funds, over-the-counter options, and total return swap products.

Kraken Adds Bitcoin Staking With Babylon Integration

Kraken has launched a Bitcoin staking service through a new partnership with Babylon, allowing customers to earn rewards on locked BTC. The integration enables users to delegate Bitcoin to proof-of-stake networks without moving assets off-chain, with staking managed through Babylon’s Layer 1 infrastructure. Rewards are distributed in BABY, the native token of the Babylon Genesis network.

Staking is fully on-chain and governed by Bitcoin-native scripts that enforce security and unbonding rules. Kraken said users can unstake at any time, with a seven-day waiting period before assets are released. The service is now live on all Kraken platforms and represents the exchange’s latest expansion into Bitcoin's DeFi.

Visa Expands Stablecoin Settlements In CEMEA Region

Visa is scaling its blockchain settlement across Central and Eastern Europe, the Middle East, and Africa, targeting institutions and fintechs. The company will support USD cross-border settlements via stablecoins and is working with partners like Yellow Card to build regional infrastructure. The initiative includes weekend and holiday settlements, cutting costs and improving liquidity flows for licensed issuers and acquirers.

Yellow Card will explore new use cases for stablecoins under Visa’s guidance, including treasury operations and payout rails. Both firms aim to integrate these systems with Visa Direct to enable faster, more transparent cross-border payments. Visa said over $225 million has already been processed using its stablecoin channels.

Ohio House Passes Crypto Tax Exemption Bill

Lawmakers in Ohio have advanced a bill that would exempt crypto payments under $200 from capital gains taxes. The legislation, known as HB 116, passed the state House by a 70-26 vote and now heads to the Senate for review. If signed into law, it would make small crypto transactions for goods and services more accessible.

The bill also restricts local governments from imposing new taxes or fees on crypto users and protects miners from unfavorable regulations. Supporters argue the measure will encourage innovation and digital commerce within the state. Its sponsor said the bill reflects Ohio’s ambition to lead in blockchain policy and economic modernization.

Data of the Day

DeFi lending protocols now manage close to $60 billion in assets, according to a new report from Artemis and VaultsFYI. Unlike previous cycles characterized by hype, this growth is fueled by real integrations into fintech apps and expanding institutional adoption. Lending platforms like Aave, Spark, and Morpho are acting as backend systems powering major consumer-facing services.

The report highlights a trend called the “DeFi mullet,” where users access traditional interfaces that quietly rely on DeFi for execution. Examples include Coinbase-backed loans, Bitget Wallet staking, and PayPal’s stablecoin yields. Tokenized real-world assets are also gaining traction, offering new sources of collateral and revenue.

More Breaking News

• CZ urged crypto platforms to add a 'will function' that lets users pre-assign heirs for digital assets, calling it a long-overdue industry standard.
• Revolut is reportedly working on its own stablecoin, deepening its crypto expansion just a year after launching Revolut X across the EU.
• DT Marks DeFi, a Trump-linked entity, discretely cut its stake in World Liberty Financial by 20%, triggering fresh scrutiny over political ties to crypto.
• Trump called on the House to pass the GENIUS Act “ASAP,” saying the stablecoin bill would make the U.S. the undisputed leader in digital assets.
• Sol Strategies has filed to list on Nasdaq as 'STKE,' aiming to scale its Solana validator model and attract institutional crypto investors.
• Prenetics has added $20M to its corporate Bitcoin treasury, becoming one of the first healthcare firms to formally adopt a BTC strategy.

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