The former CEO of BitMEX moved millions of dollars worth of certain DeFi tokens, here are which ones.
Given his history of selling similar tokens during times of market uncertainty, the analysts speculated that he likely made the transfers to sell $1.06 million worth of ENA, $954,000 worth of ETHFI, and $1.14 million worth of PENDLE.
Arthur Hayes (@CryptoHayes) sells DeFi tokens.
In the last 15 minutes he moved 8.57 million $ THIS($1.06), 2.04 million $THIP($954K) and 950K $SHUTTLE($1.14 million) – probably sold.https://t.co/loeYKUb9rN pic.twitter.com/ZOJnUHCTdr
— Lookonchain (@lookonchain) February 8, 2026
Hayes conducted several major sell-offs in August last year, claiming that the crypto market was due for a major correction. However, the market went the other way and some of the assets he sold, such as ETH, skyrocketed in the following weeks.
Just days later, he regretted his decision with a post on
However, in November, further on-chain data from Lookonchain showed him selling 520 ETH for $1.66 million, alongside ENA and ETHFI.
Another report from late December 2025 indicated that he had sold additional ETH and repurchased PENDLE, LDO, ENA, and ETHFI. If he were to indeed offload the DeFi tokens now, it would result in a significant loss given the latest market correction.
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