Most of the net proceeds are earmarked for the firm's data center expansion, with $85 million set aside for capped call transactions to mitigate share dilution.
The DEX takes over Hyperliquid’s second-largest liquid staking token, part of an ecosystem where staking makes up more than half of $2.26 billion in TVL.
The new group’s offerings will cover centralized and decentralized exchange infrastructure, real-world asset tokenization, staking, and decentralized finance.
Shares are lower by 11% on Monday with an analyst noting NAKA's convertible note terms were somewhat more stringent than those afforded to Michael Saylor's Strategy.
The UK-regulated digital asset platform has integrated Stellar into its tokenization tool and launched the Aberdeen tokenized money market fund on the network.