Hyperliquid team unstaked $332M in HYPE, tokens moved to address tied to possible OTC buyer

Hyperliquid developer Hyperlabs unstaked 3.75 million HYPE worth about $332 million eight hours ago, EmberCN reported. A CoinNess analysis of EmberCN’s post found the tokens were transferred about four hours ago through five wallets before reaching an address beginning with 0x875, which may belong to an institutional investor that bought HYPE from Hyperlabs through an OTC deal.