Arthur Hayes, former BitMEX CEO and co-founder, sold his entire HYPE token holdings worth $5.1 million on September 21, 2025, just weeks after predicting a 126x surge for the asset. The sale involved 96,628 HYPE tokens and resulted in an immediate price decline of 7.6% to 8.3%, sparking significant controversy within the crypto community.
Hayes publicly highlighted the sale on social media, explaining that he needed to "pay my deposit on the new Rari 849 Testarossa" - a Ferrari model. The transaction netted him a profit of approximately $823,000, representing a strategic financial gain despite his previous bullish stance on the token.
The market experienced increased volatility following the sale, with discussions emphasizing perceived discrepancies between Hayes' predictions and actions. Some community members viewed the move as inconsistent with his earlier statements, while industry observers noted how similar whale sell-offs have historically destabilized governance tokens. No regulatory body has issued statements on the transaction at this time.
This event underscores the ongoing challenges of influencer transparency in cryptocurrency markets and highlights how large token vesting and whale sales can significantly impact token stability and investor sentiment.
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