Arthur Hayes Sells $7.42M in Cryptocurrencies Amid Market Decline

BitMEX co-founder Arthur Hayes sold over $7.42 million in cryptocurrencies amid market losses.

Hayes liquidated 1,480 ETH worth $4.7 million.
Additional sales included 5,023,784 ENA, 960,000 LDO, 1,630 AAVE, 28,670 UNI, and 132,730 ETHFI.

Hayes has a history of poor timing with Ethereum trades. In August, he sold ETH at a low point before buying back at a higher price.

Community members criticized Hayes for trading like a retail investor.

The recent sell-off occurred during a market decline that wiped $250 billion from the crypto market cap, now at $3.24 trillion. The Crypto Fear and Greed Index shows "extreme fear."

Despite this, Circle minted $750 million USDC, indicating ongoing fund inflow into the crypto market.

Tether and Circle have issued over $14 billion in new stablecoins since October, suggesting capital is poised for re-entry.