Ventuals Freezes Trading, Tells vHYPE Holders to Withdraw Funds

Odaily Planet Daily reported that Ventuals, a Hyperliquid ecosystem project that previously said it would shut down, announced on X that trading in its commodities and indices markets has been frozen. Ventuals said mark prices and oracle prices across all markets have been set to the day's regular-session closing levels using external exchange data, and the funding rate has been set to 0. Markets will remain suspended for the rest of the day, and PNL for all open positions will be automatically settled at the final mark price. Users with open positions do not need to take any action. The project also urged all vHYPE holders who have not yet withdrawn to do so as soon as possible. Ventuals said 100% of vHYPE holders are expected to redeem vHYPE 1:1 for HYPE, plus all native staking rewards accrued since deposit. Ventuals said batch processing for initiated withdrawals will begin June 19 at 10:00 a.m. Eastern Time, with subsequent batches every 24 to 72 hours. After a withdrawal is processed, it becomes claimable after 7.5 days, reflecting Hyperliquid's standard 7-day unstaking period plus a 12-hour cooldown. Ventuals previously announced it would cease operations and be integrated into another team within the Hyperliquid ecosystem. Further details have not been disclosed.