BitMEX co-founder Arthur Hayes was spotted moving millions of dollars worth of altcoins to crypto exchange Binance.
According to blockchain tracking company Lookonchain, Hayes sent more than $8.47 million worth of Ethena (ENA) to Binance, presumably to sell on the open market.
“Arthur Hayes previously collected 16.79 million ENA ($11.21 million) at $0.67 between November 26 and 28, making a profit of $7.7 million at today’s price.”
According to the blockchain de-anonymizing service Arkham and Hayes too sent an additional $2.42 million in ENA to another wallet containing over $11 million in crypto. Arkham notes that the receiving wallet may also belong to Hayes, but the company is not 100% sure.
In a recent essay, Hayes said that crypto markets could be at risk of witnessing a “dire” correction following the inauguration of newly elected President Donald Trump.
“People are impatient because they are desperate. Trump is an astute politician and knows his supporters. To me, this means he has to go big early, which is why my money is on a massive devaluation of the dollar versus gold in the first hundred days of his term. It’s an easy way to quickly make production costs in America globally competitive. It will lead to an immediate re-shoring of production capacity, which will lead to an increase in hiring today and not in five years.
Before we get to the boom phase of this crypto bull market, I believe the crypto markets will experience a harrowing dump around Trump’s inauguration day on January 20, 2025. Maelstrom will ease predetermined positions, hoping sometime in the first half of 25 to repurchase a number of core positions at lower prices.”
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us further X, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: Midjourney
