Bitmex co-founder Arthur Hayes sold around $8 million worth of Ethereum (ETH) last week, predicting the price would fall to $3,000.
But contrary to his expectations, ETH rose to $4,200. Hayes then announced that it would reverse all sales and make profits.
According to data from on-chain analyst Ember, Hayes has transferred 14.8 million USDC to the agency’s platform. Over the past two hours, he has accumulated assets worth a total of $6.85 million: 1,250 ETH ($5.29 million), 424,000 LDO ($550,000), 420,000 ETHFI ($510,000), 92,000 Pendulude ($500,000).
On August 2nd, Hayes sold ETH and ECOSYSTEM TOKENS ENA, Aave, LDO, Ethfi and Pepe, which they purchased in July, as they predicted Bitcoin could fall to $100,000 and Ethereum could fall to $3,000. He sold ETH for an average price of $3,506.
Bitmex founder Arthur Hayes was once convicted of failing to comply with US anti-money laundering regulations. However, Hayes was recently forgiven by US President Donald Trump.
*This is not investment advice.
