Paradigm unstakes $171 million in HYPE, likely moving to institutional custody

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 that this is for ETF seeding. Custodians require liquid tokens, and staked HYPE cannot be used. Back in April, they unstaked $88 million worth of tokens, and on the same day, Grayscale updated its S-1 filing and switched its custodian to Anchorage."