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<p>The <a href="https://en.wikipedia.org/wiki/Arthur_Hayes_(banker)" target="_blank" rel="noopener noreferrer nofollow">co-founder of BitMEX exchange, Arthur Hayes</a>, has reportedly lost more than $1.2 million today as he sells 350,000 PENDLE tokens.</p>
<p>Pendle Finance is a decentralized yield trading protocol that operates on the Ethereum blockchain. The co-founder bought 393,911 Pendle tokens worth $2.2 million at around $5.6 each through Wintermute from May 20 to June 21.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/heres-why-bitcoin-btc-price-didnt-skyrocket-following-fed-interest-rate-cut/" target="_blank" rel="noopener noreferrer nofollow">Here’s Why Bitcoin (BTC) Price Didn’t Skyrocket Following Fed Interest Rate Cut&nbsp;</a></em></strong></p>
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   <p lang="en" dir="ltr">Arthur Hayes(<a href="https://twitter.com/CryptoHayes?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@CryptoHayes</a>) sold 350K <a href="https://twitter.com/search?q=%24PENDLE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PENDLE</a>($1.26M) at a loss in the past hour.<br><br>He bought 392,911 <a href="https://twitter.com/search?q=%24PENDLE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PENDLE</a>($2.2M) at ~$5.6 through <a href="https://twitter.com/hashtag/Wintermute?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Wintermute</a> from May 20 to June 21.<br><br>3 months later, <a href="https://twitter.com/search?q=%24PENDLE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PENDLE</a> dropped by over 40%, prompting him to sell at a total loss of $790K (-36%).… <a href="https://t.co/muuiX67m9M" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/muuiX67m9M</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1837017238873751916?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 20, 2024</a>
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<p>Three months later, the Ethereum-based token has dropped by more than 40%, prompting the expert to sell his holdings at a total loss of $790,000, losing around 36%.</p>
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<p>The post <a href="https://captainaltcoin.com/bitmex-co-founder-arthur-hayes-dumps-his-holdings-in-this-ethereum-eth-token-takes-huge-loss/" rel="noopener noreferrer nofollow">BitMEX Co-Founder Arthur Hayes Dumps His Holdings in This Ethereum (ETH) Token, Takes Huge Loss</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

BitMEX Co-Founder Arthur Hayes Dumps His Holdings in This Ethereum (ETH) Token, Takes Huge Loss

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