Coin Edition -
- Arthur Hayes records a $4 million profit from his Pendle investment.
- Hayes’ Pendle holdings are now valued at $8 million, doubling his initial outlay.
- Hayes plans to buy Solana and meme coins while increasing Pendle stakes.
Arthur Hayes, the founder of the BitMEX exchange, has recorded over $4 million in profit from his continued investment in Pendle (PENDLE), a project at the forefront of tokenization and trading of future yield.
Well-known Chinese reporter Colin Wu called attention to this development in a recent post on X. Data from Etherscan showed that a wallet associated with Hayes exchanged $510,545 USDC stablecoins for 98,560 PENDLE tokens just eight hours ago. Hayes orchestrated this trade via prominent market maker Wintermute.
Meanwhile, Hayes’ accumulation of PENDLE tokens dates back to June 2023, when he first bought 100,000 units from an anonymous source. Between September 2023 and March 2024, he procured 1.2 million tokens through Binance.
Before his latest transaction, Hayes bought over 57K PENDLE tokens from Wintermute two days ago. As a result of this last accumulation, the BitMEX founder now holds 1,555,697 PENDLE coins, valued at $8,058,514 at press time.
Arthur Hayes’ PENDLE holdings | Etherscan
Colin Wu estimated that Arthur Hayes acquired his PENDLE assets at an average cost of $2.02 per token. At press time, PENDLE holds a market value of $5.12. Essentially, the BitMEX exchange founder expended $3,142,507 to build his PENDLE token portfolio. Now, he commands more than double his initial investment in return, with his profit at $4,916,006.
In his latest blog post, Arthur Hayes revealed his intention to purchase Solana and various meme coins for “momentum trading positions.” He also mentioned that he is boosting his stakes in Pendle for more enduring speculative investments and will scout for additional tokens on sale. He intends to use the remainder of May to expand his investment portfolio.
Meanwhile, Hayes disclosed his role as an advisor and investor in the Pendle project, noting that he has been compensated with Pendle tokens for his advisory work.
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