BitMEX Co-founder Arthur Hayes Dumps HYPE for a Ferrari, Then Tells Followers Not to Worry

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BitMEX Co-founder Arthur Hayes Dumps HYPE for a Ferrari, Then Tells Followers Not to Worry

The Maelstrom CIO claims he offloaded his HYPE bag to fund the purchase of anew Ferrari, even as his firm warns of billions in new token supply hitting the market.

What to know:
Arthur Hayes sold about $5.1 million worth of HYPE tokens on Sept. 21, booking a 19% gain one month after predicting a 126x rally.

Hayes said the sale was partly to fund a Ferrari deposit, while Maelstrom, his investment firm, warned of looming $11.9 billion token unlocks starting in November.

Despite trimming his stake, Hayes insisted on X that HYPE could still see massive upside by 2028, calling the supply overhang a short-term test.

Arthur Hayes, the BitMEX co-founder who now runs crypto venture fund Maelstrom, sold his personal stash of Hyperliquid’s HYPE tokens just weeks after predicting the asset could rally 126-fold.

Ferrari jokes and blockchain receipts
Blockchain analytics service Lookonchain reported on Sunday that Hayes unloaded 96,628 HYPE — worth about $5.1 million — booking a profit of roughly $823,000, or 19%, in a month.

Not long after, Hayes confirmed the move with his trademark irreverence, posting on X: “Need to pay my deposit on the new Rari 849 Testarossa.” The comment fueled backlash from traders who accused him of pumping HYPE in August before quickly exiting.

Hayes pushed back on Monday, insisting the sale was tied to concerns laid out by his firm. “This is why we dumped $HYPE today. But don’t worry 126x is still possible 2028 is a long way off,” he wrote.