Wintermute wins 76% of Hyperliquid priority data auctions, fairness questioned

Wintermute, a major crypto market maker, won roughly 76% of Hyperliquid's highest-priority data auctions over the past month, according to a Bloomberg report. The concentration raises fairness questions about whether the exchange's paid early-access system favors large trading firms over smaller participants. Traders may worry that such dominance undermines confidence in Hyperliquid's market structure and its native token.