POPA ReconThe TradeXYZ fee recipient wallet transferred 250K USDC from its perps fee wallet (where perp fees accrue) to spot two days ago and used it…
The TradeXYZ fee recipient wallet transferred 250K USDC from its perps fee wallet (where perp fees accrue) to spot two days ago and used it to buy 2K HYPE (~$110K), which was then used to purchase HIP-3 tickers. https://hypurrscan.io/address/0x9cd0a696c7cbb9d44de99268194cb08e5684e5fe https://hypurrscan.io/address/0x7d16f116d252db609c56d27d6c9605eb03e16657 They have now transferred another $500K to spot and started TWAP-buying roughly 9K HYPE (~$500K). This is the first time they've used perps fee revenue to buy HYPE. Previously, the HYPE used to purchase new HIP-3 tickers was funded using…
The excerpt is quoted from a public Telegram channel, which owns its text.