Arthur Hayes, the co-founder of BitMEX, has recently faced scrutiny after selling a significant portion of his $PENDLE holdings. In just two days, Hayes sold 1.27 million PENDLE tokens, which are worth approximately $4.4 million and account for 61% of his total holdings. According to Lookonchain, he now holds around 820,000 $PENDLE, worth about $2.85 million.
It can be recalled that Hayes gave a bullish signal regarding $PENDLE only nine days ago, stating that its price would surge to $10. But he has recently declared his desire to downscale his chairman duties to finance a “special case,” which has put the crypto community in suspense. These movements have raised eyebrows about his seriousness about the token.
Hayes Confirms Maelstrom Fund Retains Significant Stake in $PENDLE
In a more recent update, the man known online as Hayes announced that despite this sale, his Maelstrom family office fund still holds a significant position on $PENDLE. He highlighted that the company’s economic interests have stepped down from 100% of the company. Still, they remain convinced that $PENDLE has opportunities to become a leader in crypto interest rate derivatives. He said, “We moved our position down to fund a special situation.” Everyone who checks on our wallets will get a chance to see what that is in the very near future.”
Since Lookonchain reported the large transaction, the cryptocurrency community has been paying close attention to Hayes’s movements. Depending on Hayes’s actions, some investors may already acknowledge the opportunity that lies within $PENDLE in the context of crypto finance.
While the situation progresses, everyone in crypto is curious about Hayes’s remaining funds in $PENDLE and what he described as a special situation.’ He has been supportive of $PENDLE before, which has created a focus on the token, and future developments could present a clear impact on the markets.
In conclusion, despite the recent sale, Hayes still holds a significant percentage of $PENDLE, but his actions have caused massive speculation over investor trust and market performance. The crypto community is more focused on seeing further moves in this unceasing narrative.
