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                            October 15, 2020

       Chunning Wang
       Chief Executive Officer
       Lion Group Holding Ltd.
       Unit A-C, 33/F, Tower A, Billion Center
       1 Wang Kwong Road
       Kowloon Bay
       Hong Kong

                                                        Re: Lion Group Holding
Ltd.
                                                            Registration
Statement on Form F-1
                                                            Filed October 1,
2020
                                                            File No. 333-249185

       Dear Mr. Wang:

              We have limited our review of your registration statement to
those issues we have
       addressed in our comments. In some of our comments, we may ask you to
provide us with
       information so we may better understand your disclosure.

              Please respond to this letter by amending your registration
statement and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your
       response.

              After reviewing any amendment to your registration statement and
the information you
       provide in response to these comments, we may have additional comments.

       Registration Statement on Form F-1

       General

   1.                                                   We note the registered
PIPE transaction is not consistent with our guidance in Question
                                                        139.11 of the
Securities Act Sections Compliance and Disclosure Interpretations. In this
                                                        regard, we note the
True-Up provision in the amended securities purchase agreement
                                                        protects an investor
from being fully at market risk. To move forward with the registered
                                                        transaction, please
amend the registration statement to remove the securities covered by
                                                        the true-up provision
and eliminate the provision from the purchase agreement.
 Chunning Wang
Lion Group Holding Ltd.
October 15, 2020
Page 2

        We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.

       Refer to Rules 460 and 461 regarding requests for acceleration. Please
allow adequate
time for us to review any amendment prior to the requested effective date of
the registration
statement.

       Please contact Donald Field at 202-551-3680 or Dietrich King at
202-551-8071 with any
questions.



FirstName LastNameChunning Wang                            Sincerely,
Comapany NameLion Group Holding Ltd.
                                                           Division of
Corporation Finance
October 15, 2020 Page 2                                    Office of Finance
FirstName LastName