Canadian Company Goes All In on HYPE: Is This the Next Big Thing or Just Hot Air? 🚀💸

In a move that could only be described as either genius or madness (or perhaps a delightful mix of both), Tony G Holdings, a company that trades under the rather amusing ticker TONY on the CSE, has decided to dive headfirst into the DeFi pool with a splashy acquisition. According to a press release that probably had more exclamation marks than necessary, they’ve purchased a whopping 10,000 HYPE tokens, the native currency of the decentralized exchange Hyperliquid. Because why not? 🤷‍♂️

As of the latest count, those 10,000 HYPE tokens are worth over $420,000, which is a tidy sum and represents the largest stake by a publicly traded company in this DeFi platform. Launched in the not-so-distant past of late 2024, Hyperliquid has been the talk of the crypto town, with HYPE skyrocketing from a humble $1 to a jaw-dropping $42 in less time than it takes to brew a cup of tea. ☕️

Why The Massive Bet in HYPE? Tony G CEO Answers

According to the aforementioned press release, Tony G Holdings operates as an investment company, which is a fancy way of saying they look for opportunities to make money. They’ve got their eyes on various sectors, with a particular fondness for cryptocurrency, payment processing businesses, and blockchain—because who doesn’t love a good buzzword? 🤑

The acquisition of 10,000 HYPE is part of a “long-term digital asset strategy,” which sounds impressive and probably involves a lot of spreadsheets and coffee. It’s a “significant milestone” for the company, and they used WonderFi as the trading venue to facilitate this transaction, which sounds like a name straight out of a sci-fi novel.

Matt Zahab, the CEO of Tony G, had this to say about their monumental HYPE acquisition:

This acquisition reflects our strategic commitment to supporting digital infrastructure that is driving the next wave of innovation. HyperLiquid represents one of the most exciting developments in decentralized trading infrastructure, and we are proud to be one of the first public companies to invest in the HyperLiquid ecosystem.

This isn’t Tony G’s first rodeo in the crypto circus. They made headlines back in 2022 when they sold 51% of their stake in News 3.0, the entity behind cryptonews.com, netting a cool $2 million. The payment plan was a monthly installment of $166,666, which sounds like a plot twist in a heist movie. They even accepted cryptocurrencies during a time when the DeFi sector was experiencing a bit of a meltdown, thanks to the FTX exchange collapse. Talk about timing! ⏰

Hyperliquid Community Speculates: HYPE ETF On The Horizon?

Since its inception, the Hyperliquid DEX has been all about putting users first, much to the chagrin of institutions and venture capitalists who are probably shaking their fists at the sky. The platform has gained traction, albeit not without its fair share of critics.

In the wake of Tony G’s 10,000 HYPE acquisition, rumors are swirling about the potential launch of a HYPE ETF, especially with the recent buzz around a Solana Exchange Traded Fund. The community is abuzz, and one particularly enthusiastic member had this to say:

Public companies are now adding HYPE to their balance sheets. A company with the ticker TONY is up 63% after buying 10,387.685 HYPE for $438,828.46 (cost basis of $42.24). It feels inevitable that a Microstrategy for HYPE will show up at some point (…).

Cover image by ChaGPT, HYPE/USDT chart from Tradingview.

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2025-06-12 18:44