Hyperliquid Labs Starts $330 Million OTC Distribution of HYPE

Hyperliquid Labs has started an over-the-counter distribution of HYPE tokens valued at about $330 million, sending half of a 3.75 million-token allocation to five buyer wallets.

The wallets received 1.875 million HYPE in total, with each address receiving 375,000 tokens. The transfers represent 50% of the allocation designated for the OTC transaction.

The full 3.75 million HYPE was unstaked over a seven-day period and added to spot balances. The tokens are not intended for sale on public markets, and the team has reached an OTC agreement with an undisclosed institution.

The distribution gives the OTC buyers direct wallet holdings while leaving the remaining half of the allocation undistributed in the reported transfers.