Hyperliquid clarifies 3.75 million HYPE pledged for OTC trading

Hyperliquid Labs' 3.75 million HYPEs will be released from pledge today and distributed to team members on October 7th. This batch of tokens belongs to an OTC transaction with a certain institution and will not be sold on the public market. The HyperLabs related address has applied to redeem 3.75 million HYPEs worth approximately $337.5 million.