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21h ago

Arthur Hayes Converts $13M in Ether, ENA and PEPE to USDC as Tariffs Hit Crypto

The move follows U.S. tariffs triggering ETF outflows, leaving altcoins under renewed pressure.

Arthur hayes dumps millions in crypto amid bearish bet on u.s. tariff impact
Arthur Hayes offloads $13 million in ETH, PEPE, and ENA amid market pullback

Overview

  • On August 2, Arthur Hayes liquidated 2,373 ETH, 7.76 million ENA and 38.86 billion PEPE—valued at roughly $13 million—and moved his holdings to over 80 percent USDC.
  • Bitcoin slid to about $112,700 while spot crypto ETFs saw $812 million in one-day outflows after new U.S. tariffs took effect on August 1.
  • ENA and memecoins such as PEPE plunged sharply before finding support, with PEPE stabilizing around $0.00001 following a five-day decline.
  • Blockchain analytics from Arkham Intelligence and Lookonchain show Hayes’s shift into USDC reflects broader whale profit-taking amid macroeconomic uncertainty.
  • Market participants are now focused on upcoming Fed communications and additional tariff rollouts on August 7 for signals on liquidity and risk appetite.