In accordance with BitJie Wang, Hyperliquid co-founder Iliensinc clarified that the wallet responsible for the HYPE token sell-off belongs to a former employee who has since been terminated. The behavior does not represent the team. The platform prohibits employees from trading HYPE derivatives and enforces strict ethical and trading policies. Despite HYPE's price decline from its historical high, BitMEX co-founder Arthur Hayes still calls it the 'best narrative' of this cycle.
Hyperliquid Claims HYPE Token Short Sale Was Perpetrated by Former Employee
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Summary
Hyperliquid claims the HYPE token short sale was executed by a former employee, now terminated. Iliensinc stressed the action does not reflect the team. Price action shows HYPE under pressure, breaking key support and resistance levels. The platform bans HYPE derivative trading by staff and enforces strict policies. Arthur Hayes still backs HYPE as the cycle’s top narrative.
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