a16z-Linked Entity Suspected of Offloading 118,000 HYPE Worth About $10.7M

October 31: According to monitoring by on-chain analyst Ai Yi, an a16z-linked entity has been suspected of selling $10.7 million worth of HYPE since yesterday. After news of the Binance hack was disclosed, the entity transferred 118,000 HYPE in batches to Wintermute, Galaxy Digital and Cumberland at an average price of $90.72; the purpose is unknown, and the most recent transfer occurred 10 hours ago.