BitMEX co-founder Arthur Hayes has recently made headlines after moving millions of dollars worth of altcoins to crypto exchange Binance. According to blockchain tracking firm Lookonchain, Hayes transferred over $8.47 million worth of Ethena (ENA) to Binance with the intention of selling it on the open market.
It was reported that Hayes had previously accumulated 16.79 million ENA, valued at $11.21 million, at a price of $0.67 between November 26th and November 28th. With the current price of ENA, Hayes has made a profit of $7.7 million from his initial investment.
In addition to transferring funds to Binance, Hayes also sent an additional $2.42 million worth of ENA to another wallet that contains over $11 million worth of crypto assets. While blockchain analysis firm Arkham suspects that the receiving wallet may also belong to Hayes, they are not completely certain.
In a recent essay, Hayes expressed concerns about a potential market correction following the inauguration of President-elect Donald Trump. He predicted that there could be a significant devaluation of the dollar against gold early in Trump’s presidency, which could impact the global economy and lead to a re-shoring of productive capacity in America.
Hayes also hinted at a possible dump in the crypto markets around Trump’s inauguration day in 2025, leading him to lighten up on certain positions in advance in hopes of reacquiring them at lower prices later on.
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The article is accompanied by an image sourced from Midjourney and includes a disclaimer that the content is for informational purposes only.