In a November 12, 2026 report, PANews cited Huma Finance co-founder Richard Liu’s response to sharp moves in HUMA’s price. Liu said the team expected volatility ahead of a November unlock, but the scale exceeded its expectations.
According to Liu, an early liquidity provider’s wallet was hacked on October 22, resulting in roughly 12 million airdropped HUMA being sold into the market. The PANews headline also stated that the foundation did not participate in the selling. Liu said the project had questioned its hired market makers and had no reason at the time to believe malicious manipulation had occurred.
Liu also pointed to derivatives activity from November 2–7: open interest across platforms rose from about 620 million to 1.1 billion HUMA, funding rates had been negative since November 4, and perpetual-contract trading volume was 7–10 times spot volume. He said activity appeared concentrated in contracts. Those readings describe the market during that period; they do not, on their own, establish what caused the price moves.
Original PANews report · Published November 12, 2026, at 14:56 UTC+8.