An entity linked to a16z was reportedly suspected of selling $10.7 million worth of HYPE since yesterday. After news of the Binance theft 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 of the transfers remains unknown, and the latest transaction occurred 10 hours ago, according to on-chain analyst Ai Yi, who tracks public blockchain activity.