BitMEX Co-Founder Arthur Hayes Offloads Significant ETH Holdings Amid Price Drop

BitMEX co-founder Arthur Hayes has reportedly sold off a significant portion of his Ethereum holdings. According to on-chain data, Hayes purchased a total of 3,298 ETH through OTC transactions over the past two weeks at an average price of $1,916.

The transaction suggests that Hayes sold approximately 2,364 ETH, resulting in a loss of around $220,000. This comes as BitMEX announced its decision to permanently close down.

In addition to selling his Ethereum holdings, Hayes also recently sold SYN and ENA worth $658,000 and $248,000 respectively.