Arthur Hayes Says Maelstrom Sold $22.28M in Tokens

Arthur Hayes said Maelstrom had closed its directional trading book after selling tokens valued at about $22.28 million, and said he would stay out of the market until conditions improve. The sales, reported by blockchain tracker Lookonchain on October 24, included 6,400 Ether valued at about $15.2 million. Hayes, co-founder of BitMEX and chief investment officer of the family office, said on X that Maelstrom had taken profits on ETH, ENA, UNI and other tokens. He cited uncertainty in the macroeconomic and geopolitical environment, saying he would wait for an “all clear” before returning. He did not give a date for re-entry or a price target for Bitcoin or Ether. Lookonchain’s reported breakdown listed 14 million Ethena tokens, or ENA, valued at $2.76 million, and 323,000 Uniswap tokens, or UNI, worth $2.24 million. It also included 1.89 million Ether.fi tokens valued at $1.23 million, along with smaller positions in Aerodrome Finance, Pendle and Zama. The tracker’s dollar figures represent reported token values, not confirmed profits or exact execution proceeds. Hayes’s statement described Maelstrom’s directional book, but did not provide a complete account of the firm’s...