Arthur Hayes, the BitMEX co-founder who now runs crypto venture fund Maelstrom, sold his personal stash of Hyperliquid’s HYPE tokens just weeks after predicting the asset could rally 126-fold.

Ferrari jokes and blockchain receipts

Blockchain analytics service Lookonchain reported on Sunday that Hayes unloaded 96,628 HYPE — worth about $5.1 million — booking a profit of roughly $823,000, or 19%, in a month.

Not long after, Hayes confirmed the move with his trademark irreverence, posting on X: “Need to pay my deposit on the new Rari 849 Testarossa.” The comment fueled backlash from traders who accused him of pumping HYPE in August before quickly exiting.

Hayes pushed back on Monday, insisting the sale was tied to concerns laid out by his firm. “This is why we dumped $HYPE today. But don’

See Full Page