Reports have emerged that BitMEX co-founder Arthur Hayes sold a significant portion of his Ethereum ($ETH) assets after a price drop of nearly 3%.
According to blockchain data, over the past two weeks, Hayes acquired a total of 3,298 $ETH through over-the-counter deals at an average price of $1,916. However, approximately two hours ago, an address presumably belonging to Hayes transferred 2,364 $ETH to addresses associated with Cumberland and Galaxy Digital.
Following these transfers, 4.30 million USDC was sent to Hayes' wallet. Transaction analysis indicated that the transferred Ethereum was likely sold.
Assuming Hayes sold the 2,364 $ETH, it is estimated that the transaction resulted in a loss of approximately $220,000.
Furthermore, blockchain data revealed that Arthur Hayes recently sold SYN worth $658,000 and ENA worth $248,000.
The cryptocurrency exchange BitMEX, founded by Hayes, recently announced its decision to permanently shut down.
*This is not investment advice.
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