Hyperliquid Labs begins $330M HYPE OTC distribution, transfers half to five buyers

Hyperliquid Labs has finished unstaking 3.75 million HYPE tokens, valued at approximately $330 million. Half of that pile has already landed in the wallets of five over-the-counter buyers. The unstaking wrapped up on October 7, 2026. It is the largest token distribution the team has made in HYPE’s history, and it is not particularly close. The details: one big release, split five ways The process began on September 30, when the team kicked off a seven-day unbonding period. Think of unbonding as a cooling-off window. Staked tokens cannot move instantly, so holders wait out a set period before the coins become transferable. Once that week passed, 1.875 million HYPE went to five OTC buyer wallets. The split was perfectly even, with each wallet receiving 375,000 tokens. The other half of the 3.75 million tokens has not yet followed. That leaves the distribution partly complete, with the remaining tokens still waiting for a next move. Co-founder iliensinc confirmed that the transaction is tied to an OTC agreement with an undisclosed institutional counterparty. According to the team, the tokens are part of a firm deal and will not enter public markets. The full 3.75 million HYPE forms pa...