Hayes Unloads Millions Worth of ETH Amid BitMEX Closure
BitMEX co-founder Arthur Hayes has reportedly sold a significant portion of his Ethereum (ETH) holdings following a price drop. On-chain data reveals that Hayes purchased a total of 3,298 ETH through OTC transactions over the past two weeks at an average price of $1,916.
The transferred Ethereum was likely sold after Hayes' address sent 2,364 ETH to addresses linked to Cumberland and Galaxy Digital approximately two hours ago. This transaction flow suggests that the ETH was sold, resulting in a loss of approximately $220,000 for Hayes.
In addition to selling his ETH, Hayes also recently sold $658,000 worth of SYN and $248,000 worth of ENA, according to on-chain data. BitMEX's decision to permanently close down its operations may have contributed to Hayes' sale of these assets.