Bitmex Founder Arthur Hayes Makes $1.45M Profit with Pendle, Bitcoin Options Next

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In a surprising turn of events,  arthur hayes arthur hayes co-founder at 100x   Arthur Hayes is an American investor, business visionary, subsidiary merchant, Bitcoin advocate, and a fintech pioneer. He was the co-founder, and CEO of BitMEX alongside Ben Delo, and Samuel Reed. BitMEX was established in 2014, the parent organization is HDR Global Trading. He is the previous CEO of BitMEX and parent organization 100x Group. BitMEX is an advanced resource exchanging stage that has exchanged trillions of dollars on the cryptographic money trade. BitMex is situated in Seychelles. He is situated in Hong Kong. In October 2020, He ventured down as CEO of BitMEX.   BitMEX is the first crypto trade to be charged under the bank security act. The regulations expect that exchanges that are more than $10,000 should be accounted for. It is known as Know Your Customer (KYC) information. He ventured down from BitMex in October 2020. Alexander Hoptner supplanted Hayes as CEO of BitMEX. He moved to Hong Kong in 2008, to begin his speculation banking profession. He worked for Deutsche Bank, as a value subordinates broker, and for Citigroup for a long time. He functioned as the head ETF market producer for the two firms.    In 2011, He left Deutsche Bank and started working for Delta 1 broker for Citibank in Hong Kong. His interest in Bitcoin began in 2013, after perusing the Satoshi Nakamoto's white papers. He is the most youthful African American crypto tycoon ever. EntrepreneurInvestorChief Executive OfficerTrader , the founder of BitMEX, has withdrawn a substantial amount of Pendle (PENDLE) tokens from Binance, raising eyebrows in the crypto community. This strategic move, valued at $1.28 million, has initiated discussions about potential market trends and the influence of notable figures on cryptocurrency values.

Hayes’ Pendle Withdrawal

Arthur Hayes executed a strategic move by withdrawing 500,000 Pendle tokens from Binance at $2.57 per token, with a current estimated profit of $1.45 million. His diversified portfolio includes various altcoins like Ethereum, WILD, MEOW, USDT, WETH, WBTC, SUSHI, and ACH.

Spot On Chain, a crypto analytics firm, noted that PENDLE has been on the rebound since Hayes’ withdrawal, suggesting market sentiment influenced by his actions. Despite a 5.62% decline in the last 24 hours, PENDLE has shown impressive growth of 115.72% over the last 30 days, emphasizing the dynamic nature of the crypto market.

Hayes’ Influence and Timing

To hedge against potential downside risks, Hayes made a significant investment of $35,000 in Bitcoin options on March 29, 2024. This move underscores his cautious stance towards prevailing market conditions and his preparedness to navigate potential volatility in the crypto space.

In alignment with his new strategy, Hayes announced the sale of his trading positions in Solana and Bonk. Despite exiting these positions at a slight loss, the decision is seen as part of a broader risk management strategy, demonstrating a willingness to reallocate capital in response to evolving market dynamics.

Hayes’s strategic announcement also includes his intention to capitalize on market downturns. Specifically, he expressed his readiness to “buy the dip” if Bitcoin’s value falls below the $35,000 support level. This forward-looking approach positions Hayes to capitalize on potential buying opportunities in the event of a market correction.

In Conclusion 

As a prominent figure in the crypto community, Hayes’ actions are closely monitored. Investors are keenly observing PENDLE’s value and Hayes’ altcoin portfolio for cues and insights that may guide their trading strategies.