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Arthur Hayes Offloads Nearly $5 Million in Tokens as He Talks Up Zcash

On-chain data show the BitMEX co-founder cut risk through institutional desks during a sharp crypto selloff.

Overview

  • Blockchain trackers recorded transfers to Flowdesk, FalconX and Wintermute totaling about $2.5 million, including 520 ETH, roughly 2.62 million ENA and 132,000 ETHFI.
  • Subsequent sales included approximately $480,000 in LDO, $289,000 in AAVE and $211,000 in UNI, with Lookonchain later counting 1,480 ETH sold for about $4.7 million over two days.
  • CoinCentral reported that his single-day disposals neared $5 million as Arkham Intelligence estimated his portfolio fell over 30% in November to roughly $42.2 million.
  • Hayes publicly amplified his ZEC thesis, saying he "aped more," asserting "ZEC > XRP," and urging holders to withdraw to self-custody.
  • Analysts floated that proceeds could be rotated into ZEC, though no on-chain buys were confirmed, while separate data showed a 700-ETH deposit to market maker B2C2.