Hayes cashes out altcoin holdings and steps aside

Arthur Hayes, BitMEX co-founder, has closed every speculative trade on his books. He locked in gains across Ethereum, Ethena, Uniswap and four other altcoins, with no plans to open fresh positions for now.

The move comes amid mounting macro and geopolitical uncertainty, he wrote on X on 24 October. Hayes suggested the market may first need a pullback before any sustained recovery can take hold.

On-chain tracker Lookonchain tallied roughly $22.28 million in seven tokens tied to his wallets: 6,400 ETH, 14 million ENA, 323,000 UNI plus holdings in ETHFI, AERO, PENDLE and ZAMA. No price targets or timelines for re-entering trades were disclosed.

Based on information from cryptonews.net