Arthur Hayes liquidates $22M in crypto assets via Maelstrom

Arthur Hayes, co-founder of BitMEX and Chief Investment Officer at Maelstrom, has closed the directional trading book of his Maelstrom fund. The move involves the sale of approximately $22.28 million in digital assets, according to on-chain data from Lookonchain and EmberCN.

The liquidation primarily consisted of 6,400 ETH (valued at roughly $15.2 million), 14 million ENA ($2.76 million), and 323,000 UNI ($2.24 million). Other assets sold included ETHFI, AERO, PENDLE, and ZAMA. Hayes indicated that the tokens were moved to exchanges such as Binance and to various market makers.

Hayes cited macroeconomic and geopolitical uncertainty as the primary reasons for the exit, stating, “I think we gotta go down to go up.” He expressed intentions to remain on the sidelines until market conditions provide a clearer signal. This decision marks a significant reversal from his recent bullish outlooks on Bitcoin and Ethereum.