Hyperliquid rejects insider-trade claims, links $25,140 HYPE short to ex-employee

On December 22, 2025, Hyperliquid denied rumors of insider-trading tools and USDC insolvency, saying the contested HYPE short was opened by a former employee. The alleged insider position was $25,140 (1,000 HYPE), while platform data showed $1.25B open interest and whales 59% long.