Paradigm Unstakes $171M in HYPE, Potentially Moving to Institutional Custody
2026-07-24 01:57
Odaily Planet Daily News: This morning, two addresses suspected to be associated with Paradigm unstaked 2.92 million HYPE (approximately $171 million).
Former Ethereum core developer and angel investor Eric Conner commented on this: "Everyone assumes this is a sell-off, but it's more likely seed funding for an ETF (ETF seeding). Custodians require liquid tokens, and staked HYPE cannot be used. Back in April, they unstaked $88 million in tokens, and on the same day, Grayscale updated its S-1 filing and switched its custodian to Anchorage."
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