BitMEX founder Arthur Hayes has recently sparked controversy by publicly hyping Hyperliquid (HYPE) while allegedly offloading large amounts of the token. On-chain data reveals that while Hayes was vocally bullish on HYPE, he simultaneously dumped over $9 million worth of the token through major exchanges like Binance, Gate, and Wintermute.
May 23: Hayes posted on X (formerly Twitter), suggesting HYPE's market cap could surpass Solana (SOL).
June 9: Capitalizing on Binance.US promoting Hyperliquid, he asked CZ if Binance planned to list HYPE, fueling market speculation.
June 11: He further stoked hype by questioning whether Hyperliquid’s trading volume could overtake Binance’s.
June 12: Blockchain sleuths tracked a suspected Hayes-linked wallet (0xc322...c1dd) transferring 221,000 HYPE (~$9.14 million) to market makers.
December 21, 2023: Hayes loudly endorsed Ethena (ENA), declaring that DeFi protocols not integrating USDe "should be out of business." That same day, he unstaked 9.018 million ENA and dumped $8.47 million worth on Binance. ENA subsequently crashed 70%.
June 2024: After HYPE surged past $40, Hayes repeated the playbook—hyping the token while quietly selling, raising market manipulation concerns.
Short-Term Pump Effect: Hayes’ endorsements often trigger FOMO-driven rallies—HYPE spiked 10% after his posts.
Long-Term Trust Erosion: Repeated "pump-and-dumps" risk alienating investors and undermining confidence in Hyperliquid.
Hypocrisy Exposed: Hayes later criticized Hyperliquid as "not truly decentralized" and predicted HYPE would "go to zero," contradicting his earlier bullish stance.
From ENA to HYPE, Hayes has repeatedly talked up tokens while dumping them, suggesting "pump-and-dump" may be a deliberate tactic. While the wallet links aren’t 100% confirmed, the timing and historical patterns strongly imply market manipulation.
Investor Warning: If Hayes continues this pattern, traders must scrutinize his motives—or risk becoming exit liquidity.
BitMEX founder Arthur Hayes has recently sparked controversy by publicly hyping Hyperliquid (HYPE) while allegedly offloading large amounts of the token. On-chain data reveals that while Hayes was vocally bullish on HYPE, he simultaneously dumped over $9 million worth of the token through major exchanges like Binance, Gate, and Wintermute.
May 23: Hayes posted on X (formerly Twitter), suggesting HYPE's market cap could surpass Solana (SOL).
June 9: Capitalizing on Binance.US promoting Hyperliquid, he asked CZ if Binance planned to list HYPE, fueling market speculation.
June 11: He further stoked hype by questioning whether Hyperliquid’s trading volume could overtake Binance’s.
June 12: Blockchain sleuths tracked a suspected Hayes-linked wallet (0xc322...c1dd) transferring 221,000 HYPE (~$9.14 million) to market makers.
December 21, 2023: Hayes loudly endorsed Ethena (ENA), declaring that DeFi protocols not integrating USDe "should be out of business." That same day, he unstaked 9.018 million ENA and dumped $8.47 million worth on Binance. ENA subsequently crashed 70%.
June 2024: After HYPE surged past $40, Hayes repeated the playbook—hyping the token while quietly selling, raising market manipulation concerns.
Short-Term Pump Effect: Hayes’ endorsements often trigger FOMO-driven rallies—HYPE spiked 10% after his posts.
Long-Term Trust Erosion: Repeated "pump-and-dumps" risk alienating investors and undermining confidence in Hyperliquid.
Hypocrisy Exposed: Hayes later criticized Hyperliquid as "not truly decentralized" and predicted HYPE would "go to zero," contradicting his earlier bullish stance.
From ENA to HYPE, Hayes has repeatedly talked up tokens while dumping them, suggesting "pump-and-dump" may be a deliberate tactic. While the wallet links aren’t 100% confirmed, the timing and historical patterns strongly imply market manipulation.
Investor Warning: If Hayes continues this pattern, traders must scrutinize his motives—or risk becoming exit liquidity.
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