BitMEX Co-Founder Arthur Hayes Dumps His Holdings in This Ethereum (ETH) Token, Takes Huge Loss

September 20, 2024

BitMEX Co-Founder Arthur Hayes Dumps His Holdings in This Ethereum (ETH) Token, Takes Huge Loss

The co-founder of BitMEX exchange, Arthur Hayes, has reportedly lost more than $1.2 million today as he sells 350,000 PENDLE tokens.

Pendle Finance is a decentralized yield trading protocol that operates on the Ethereum blockchain. The co-founder bought 393,911 Pendle tokens worth $2.2 million at around $5.6 each through Wintermute from May 20 to June 21.

Arthur Hayes(@CryptoHayes) sold 350K $PENDLE($1.26M) at a loss in the past hour.

He bought 392,911 $PENDLE($2.2M) at ~$5.6 through #Wintermute from May 20 to June 21.

3 months later, $PENDLE dropped by over 40%, prompting him to sell at a total loss of $790K (-36%).… pic.twitter.com/muuiX67m9M
— Lookonchain (@lookonchain) September 20, 2024

Three months later, the Ethereum-based token has dropped by more than 40%, prompting the expert to sell his holdings at a total loss of $790,000, losing around 36%.

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