The former BitMEX CEO has moved millions of dollars worth of certain DeFi tokens, here’s which ones.
Arthur Hayes, perhaps best known for his leadership at BitMEX years ago, has made several high-value transfers for numerous altcoins, mostly from the DeFi space, which caught the attention of monitoring resources such as Lookonchain.
Given his history of offloading similar tokens in times of market uncertainty, the analysts speculated that he had 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) is selling DeFi tokens.
In the past 15 minutes, he moved out 8.57M $ENA($1.06), 2.04M $ETHFI($954K), and 950K $PENDLE($1.14M) — likely to sell.https://t.co/loeYKUb9rN pic.twitter.com/ZOJnUHCTdr
— Lookonchain (@lookonchain) February 8, 2026
Hayes made several big sell-offs in August last year, claiming that the crypto market was due for a large correction. However, the market went the other direction, 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 X. Hayes explained that he had to buy it all back at higher prices, asked for forgiveness from the Ethereum community, and promised not to take ETH profits again.
In November, though, further on-chain data from Lookonchain showed that he disposed of 520 ETH for $1.66 million, alongside ENA and ETHFI.
Another report from late December 2025 indicated that he had sold additional ETH and purchased PENDLE, LDO, ENA, and ETHFI again. If he indeed offloaded the DeFi tokens now, it would result in a substantial loss given the latest market correction.
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