The sale was executed at $1,690 per token after the Ether had been acquired at an average price of $1,793, crystallizing a six-figure loss amid a broader crypto market selloff.
Arthur Hayes sold 6,000 Ether for $10.14 million at $1,690 each, realizing a $606,000 loss on the position. The tokens had been bought at an average price of $1,793, meaning the sale locked in the loss rather than leaving it unrealized. The transaction points to continued pressure in Ether during a broader crypto market downturn, with the reported trade underscoring how large holders can be forced to accept losses when volatility intensifies.