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BitMEX Co-Founder Arthur Hayes Shifts $13M Crypto Portfolio to USDC Amid Market Uncertainty
BitMEX Co-Founder Arthur Hayes Shifts $13M Crypto Portfolio to USDC Amid Market Uncertainty
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BitMEX exchange News -
BitMEX co-founder Arthur Hayes has sold over $13 million in cryptocurrency assets, including Ether (ETH), Ethena (ENA), and Pepe (PEPE), converting the majority into USDC stablecoins. According to Arkham Intelligence, his address now holds 80% of its $27.9 million portfolio in USDC.
Hayes attributed the move to macroeconomic challenges, pointing to new U.S. tariffs and a weak jobs report as potential triggers for market downturns. Despite short-term caution, he remains optimistic about long-term growth, targeting $100,000 for Bitcoin and $3,000 for Ether.
The crypto market has dipped 7.5% this week, with Bitcoin falling 3.9% to $113,500 and Ether dropping 6.5% to $3,500, as fading rate cut expectations dampen investor sentiment.
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