Arthur Hayes buys $1.17M in Ether.fi and warns of fake Flop Labs tokens

BitMEX co-founder Arthur Hayes has re-entered a position in Ether.fi (ETHFI), purchasing 1.9 million tokens valued at approximately $1.17 million at a price of $0.62 per token. This move follows a previous sale of ETHFI in April at $0.44, meaning the new entry point is roughly 41% higher than his previous exit.

Separately, Hayes issued a warning regarding Flop Labs, the project he recently announced he would lead as CEO. He clarified that Flop Labs has not yet issued any tokens, conducted pre-sales, or launched a memecoin. He stated that the genuine airdrop will be announced in several months, with the mainnet expected to go live next year. The proposed FLOP token is intended to serve as a native currency for an “agentic economy,” allowing autonomous AI agents to pay for computing power and memory storage.

Hayes's recent activities have drawn scrutiny from on-chain investigators. Reports have highlighted instances where his family office, Maelstrom, moved significant token amounts following his public endorsements, and records indicate a history of volatile trading patterns across various digital assets.