PANews reported on October 1st that an insider whale, monitored by on-chain analyst Yu Jin, had just closed his entire XRP short position on Hyperliquid. He had transferred 4.22 million USDC to Hyperliquid five days prior to starting the short position, but today, only 668,000 USDC remained, representing a $3.55 million loss. He withdrew the remaining 668,000 USDC from Hyperliquid and transferred it to GMX. He then shorted $59.89 million worth of BTC using 95x leverage, opening at $114,560 and liquidating at $115,131.