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Arthur Hayes sells 2,364.38 ETH for 4.3 million USDC at a $241,000 loss

Arthur Hayes sells 2,364.38 ETH for 4.3 million USDC at a $241,000 loss

On-chain transfers to Cumberland and Galaxy Digital suggest Hayes reduced crypto exposure after Ether weakened, while also selling SYN and ENA in separate transactions.

ETH
USDC
ENA

Fact Check
The originating on-chain report by Lookonchain confirms all specific figures: 2,364.38 ETH sold, 4.3M USDC received, ~$1,821 sale price, and a $241K (-5.3%) loss. Cryptopolitan and CoinNess independently corroborate these exact figures and the crypto pullback context (Ether down ~3.1%). All quantitative details in the claim match the primary source precisely.
    Reference: 123
Summary

Arthur Hayes transferred 2,364 ETH to addresses linked to Cumberland and Galaxy Digital and later received 4.30 million USDC, a transaction flow that suggests the Ether was sold after a roughly 3% price drop. Existing topic data identified the sale as 2,364.38 ETH for 4.3 million USDC at an average price of about $1,821 per token, implying a possible loss of about $241,000 against prior purchases. The new report says Hayes had bought 3,298 ETH through OTC transactions over the past two weeks at an average price of $1,916 and estimates the sale produced a loss of around $220,000. On-chain data in the new report also showed Hayes recently sold about $658,000 worth of SYN and $248,000 worth of ENA, indicating broader portfolio trimming beyond Ether. The report additionally says BitMEX, the cryptocurrency exchange founded by Hayes, recently announced a permanent shutdown.

Terms & Concepts
  • USDC: A dollar-pegged stablecoin.
  • OTC transactions: Trades negotiated directly between parties rather than executed on a public exchange order book.