Since establishing its position, the Company has not sold any HYPE tokens and continues to hold its full allocation of approximately 195,000 HYPE. As of August 24, 2026, this position was valued at approximately USD 15.8 million (based on prevailing market prices as of August 24, 2026). This reflects the Company's strong conviction in Hyperliquid's fundamentals and long-term potential.

Recent Developments in Hyperliquid

Hyperliquid has continued to demonstrate growth, supported by strong on-chain perpetuals trading volumes, protocol revenues, and ongoing protocol upgrades. Recent public commentary regarding potential regulatory pathways in the United States, together with product integrations by major platforms and continued institutional interest through spot HYPE ETFs, have contributed to heightened market attention. These developments reflect broader interest in the platform's capabilities in decentralized trading, tokenized assets, and related markets.

Lion Group will continue to monitor market developments and provide updates as appropriate.