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BitMEX Exchange Co-Founder Arthur Hayes Shifts $13M Crypto Portfolio to USDC Amid Tariff Concerns
BitMEX Exchange Co-Founder Arthur Hayes Shifts $13M Crypto Portfolio to USDC Amid Tariff Concerns
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BitMEX exchange News -
BitMEX co-founder Arthur Hayes has liquidated over $13 million in cryptocurrency holdings, including Ether (ETH), Ethena (ENA), and Pepe (PEPE), converting 80% of his portfolio to USDC stablecoins ($27.9 million). Hayes attributed this defensive move to President Trump's new tariffs and weak U.S. jobs data, forecasting potential pullbacks to $100,000 for Bitcoin and $3,000 for Ether.
Market sentiment soured as Fed rate cut expectations diminished. Ether fell 6.5% to $3,500, underperforming Bitcoin's 3.9% weekly decline to $113,500. Traders are bracing for additional tariffs effective August 7.
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