Hyperliquid Labs unstakes 3.75M HYPE for OTC sale

Hyperliquid Labs is unstaking 3.75 million HYPE tokens, designated for the team, on October 7, 2026, for an over-the-counter (OTC) sale to a single institutional buyer. The tokens are valued at approximately $329 million. The sale will be conducted off-exchange, bypassing the order book, and is not expected to directly impact it.