Arthur Hayes is a famous crypto investor, executive and influencer, co-founder of BitMEX and CIO of his family office Maelstrom Fund. Just recently, Hayes dumped over $10 million of the Ethena ( ENA ) cryptocurrency, a project he has funded and supports. According to data Finbold retrieved from Arkham Intelligence , the famous investor received 9 million ENA from an Ethena smart contract on December 22 and deposited this amount to two centralized exchange addresses. First, Hayes sent 7 million ENA, worth $8.47 million, to Binance after receiving $10.91 million from the contract. Then, the executive sent 2 million ENA, worth $2.42 million, to an address Lookonchain identified as belonging to Bybit. It is possible that this amount comes from unstaking 9 million sENA from Ethena’s liquid staking protocol. This is because Hayes’s address has an sENA activity from one week ago worth $8.88 million at that time. Arthur Hayes crypto transfers. Source: Arkham Intelligence / Finbold Arthur Hayes supports Ethena (ENA) Notably, Arthur Hayes is also a known Ethena supporter in many fronts. For example, he inspired USDe’s creation through a paper describing a stablecoin that would work similarly to what Ethena designed. However, Hayes’s drafts suggested using Bitcoin ( BTC ) automated trades instead of the Staked Ethereum ( sETH ) used by Ethena’s stablecoin USDe. The millionaire investor has supported the project since its launch, not only by inspiring it with his paper but also with funding and advisory. As CoinDesk reported , the Maelstrom Fund was one of Ethena’s investors in a $6 million funding round led by Dragonfly. As of this writing, Arthur Hayes holds $36.44 million in his known addresses, according to Arkham Intelligence . Out of that, sENA makes the third largest position, currently with 7.919 million sENA, worth $8.35 million. Hayes also has 18,580 ENA, worth $19,680. Arthur Hayes holdings. Source: Arkham Intelligence Therefore, the investor’s recent Ethena dump accounted for more than half of his entire ENA and sENA known position. This represents a significant activity that raised warning in the market, given Hayes’s support for the project. Previously, Finbold reported how the investor dumped millions of dollars of Pendle (PENDLE) right after publicly promoting the token on X. As things develop, the market will closely watch Arthur Hayes’s addresses to understand if this represents just opportunistic swing trading or something bigger, like a long-term repositioning or even potential insider trading. Receive Signals on SEC-verified Insider Stock Trades Stocks This signal is triggered upon the reporting of the trade to the Securities and Exchange Commission (SEC). Enable signal Featured image from Shutterstock. The post Arthur Hayes just dumped $10 million of this crypto he supports appeared first on Finbold .
