{"id":48845,"date":"2025-09-22T14:46:47","date_gmt":"2025-09-22T14:46:47","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=48845"},"modified":"2025-09-22T14:46:47","modified_gmt":"2025-09-22T14:46:47","slug":"bitmex-co-founder-arthur-hayes-dumps-hype-for-a-ferrari-then-tells-followers-not-to-worry","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=48845","title":{"rendered":"BitMEX Co-founder Arthur Hayes Dumps HYPE for a Ferrari, Then Tells Followers Not to Worry"},"content":{"rendered":"
\n

Arthur Hayes, the BitMEX co-founder who now runs crypto venture fund Maelstrom, sold his personal stash of Hyperliquid\u2019s HYPE tokens just weeks after predicting the asset could rally 126-fold.<\/p>\n

Ferrari jokes and blockchain receipts<\/h3>\n

Blockchain analytics service Lookonchain reported<\/a> on Sunday that Hayes unloaded 96,628 HYPE \u2014 worth about $5.1 million \u2014 booking a profit of roughly $823,000, or 19%, in a month.<\/p>\n

Not long after, Hayes confirmed<\/a> the move with his trademark irreverence, posting on X: \u201cNeed to pay my deposit on the new Rari 849 Testarossa.\u201d The comment fueled backlash from traders who accused him of pumping HYPE in August before quickly exiting.<\/p>\n

Hayes pushed back<\/a> on Monday, insisting the sale was tied to concerns laid out by his firm. \u201cThis is why we dumped $HYPE today. But don\u2019t worry 126x is still possible 2028 is a long way off,\u201d he wrote.<\/p>\n

Maelstrom warns of $11.9B supply unlocks<\/h3>\n

Earlier today, Maelstrom published a lengthy X post<\/a> outlining what it called HYPE\u2019s \u201cfirst true test.\u201d <\/p>\n

Starting Nov. 29, 237.8 million HYPE will begin vesting linearly over two years \u2014 unlocking nearly $500 million of tokens per month. At current prices of around $50, that represents $11.9 billion of supply entering circulation.<\/p>\n

The post estimated Hyperliquid\u2019s buyback program could only absorb about 17% of that flow, leaving a potential $410 million monthly overhang. \u201cHas the market priced in the sheer scale of these unlocks?\u201d Maelstrom asked.<\/p>\n

Maelstrom framed the looming supply shock as natural for a fast-growing protocol but warned that large vested allocations may tempt early developers and insiders to sell. The firm also noted that even large decentralized autonomous treasury (DAT) deals, such as Sonnet\u2019s $583 million HYPE raise, won\u2019t offset the scale of the unlocks.<\/p>\n

Still betting on a decentralized Binance<\/h3>\n

The remarks contrasted sharply with Hayes\u2019s Aug. 27 blog post<\/a>, where he called Hyperliquid a \u201cdecentralized Binance\u201d and argued HYPE could climb 126x by 2028. That thesis relied on bold assumptions: a $10 trillion stablecoin market, Hyperliquid capturing a Binance-level trading share, and fee structures holding steady.<\/p>\n

Despite selling his tokens, Hayes reiterated that long-term view on Monday, describing the upcoming unlock as a hurdle, not a death blow. In his words, \u201c2028 is a long way off.\u201d<\/p>\n

Hyperliquid has surged to become a dominant player in decentralized perpetual futures, and its HYPE token remains central to governance, staking and fee distribution. Whether the market can digest nearly $12 billion in new supply may determine if Hayes\u2019s forecast proves prescient \u2014 or overly ambitious.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Arthur Hayes, the BitMEX co-founder who now runs crypto venture fund Maelstrom, sold his personal stash of Hyperliquid\u2019s 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 \u2014 worth about $5.1 million \u2014 booking a profit […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-48845","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/48845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48845"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/48845\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}