Galaxy

Ethena

Uniswap

Arthur

On Saturday, Arthur Hayes dumped the directional book of Maelstrom, his family office, with on-chain trackers tallying the sales at $22.28 million across seven tokens.
The BitMEX co-founder took profits on Ethereum (ETH), Ethena (ENA), Uniswap (UNI) and other altcoins.
“I dumped it all. The Maelstrom directional book, took profits on $ETH, $ENA, $UNI and other shitcoins,” Hayes said in a <a href="https://x.com/CryptoHayes/status/2113877751803642092" rel="noopener noreferrer nofollow">post</a> on X. “I think we gotta go down to go up,” he added.
He said macro and geopolitical conditions look “a bit dicey” and that he’s waiting for a green light before buying back in.
<h3 id="span-style-font-weight-400-seven-tokens-left-labeled-wallets-in-a-40-minute-window-span">Seven tokens left labeled wallets in a 40-minute window</h3>
On-chain trackers identified 6,400 ETH (~$15.2 million), 14 million ENA (~$2.76 million) and 323,000 UNI (~$2.24 million). The rest were smaller quantities of ETHFI, AERO, PENDLE and ZAMA.
<figure style="width: 100%" class="wp-caption alignnone"><img src="https://www.cryptopolitan.com/wp-content/uploads/2026/10/2026-10-24-hayes-22m-maelstrom-exit-reverses-eth-call-01.png" alt="Hayes' $22M Maelstrom exit reverses his October ETH call." width="620" height="419">
 <figcaption>
 Lookonchain’s tally of the seven tokens Hayes-labeled wallets moved, posted on <a href="https://x.com/lookonchain/status/2113876807393083697" rel="noopener noreferrer nofollow">X</a> on October 24, 2026.
 </figcaption>
</figure>
Etherscan records show a bigger ETH number. Another address associated with Hayes sent 8,000 ETH in four transactions, 3,200 ETH to a Galaxy Digital deposit and 1,600 ETH each to Binance, FalconX and a fourth address.
The main wallet shifted 14 million ENA to a Binance deposit and 323,000 UNI and 3 million ZAMA to an address tagged for Wintermute. Minutes later, a Wintermute wallet returned 2,425,850 USDC.
The same wallet transferred 1.89 million ETHFI to a FalconX deposit and 120,000 PENDLE to the fourth address. On Base, it channeled 546,610 AERO to Binance.
The tokens were out between 1:34 a.m. and 2:14 a.m. ET Saturday. Hayes posted at 2:18 a.m. ET.
The labeled wallet still retained some 14.45 million ENA after the transfers.
<h3 id="span-style-font-weight-400-bitmex-co-founder-trades-the-bailout-bet-for-the-sidelines-span">BitMEX co-founder trades the bailout bet for the sidelines</h3>
“Instead just trade the eventual multi-trillion dollar bail out. Long $BTC $ETH,” Hayes <a href="https://x.com/CryptoHayes/status/2110593549033238813" rel="noopener noreferrer nofollow">wrote</a> Oct. 15. The address behind the ETH transfers on Saturday had taken in 8,012 ETH from his main wallet on Oct. 14.
“Going to sit on the sidelines and wait for the all clear signal,” Hayes wrote.
He exits in a way that contradicts his May <a href="https://www.cryptopolitan.com/arthur-hayes-ai-midterms-bitcoin-parabolic/" rel="noopener noreferrer nofollow">essay</a>, “The Butterfly Touch.” In it, he pegged a Bitcoin (BTC) bottom near $60,000, floated $126,000 and said he would take Maelstrom’s portfolio “to maximum risk unless anything drastically changes.”
Hayes has quit positions on macro grounds before, announcing full exits from HYPE and NEAR in June. He was accused by ZachXBT of selling HYPE, NEAR, ZEC and WLD within two weeks of boosting each token.
Days after Hayes hyped the token, on-chain observers flagged Maelstrom sending ~$1.92 million of CARDS to market maker Flowdesk later in June, <a href="https://www.cryptopolitan.com/arthur-hayes-exit-liquidity-reports/" rel="noopener noreferrer nofollow">Cryptopolitan</a> reported. Hayes replied to ZachXBT, saying he “sold to a willing seller at a price.”
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Arthur Hayes dumps ~$22M in Maelstrom tokens nine days after going long ETH

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