The Token2049 conference held in Singapore drew attendance from some of the most prominent figures in the crypto industry, with many taking the chance to promote their own interests.
Attendees reported that during his presentation on Wednesday, former BitMEX CEO Arthur Hayes dedicated nearly 30 minutes to advocate for his preferred crypto project, Pendle.
On Friday, he transferred over a million dollars’ worth of Pendle tokens to his accounts on Binance and ByBit.
Since centralized exchanges like Binance and ByBit mix customer assets, making it challenging to definitively verify what transpired, many interpreted the transaction as a sign that Hayes sold those tokens.
Community Reactions to Arthur Hayes’ Pendle Transaction
The reaction to the transfer was swift. Numerous commenters referred to Hayes’ famous, sly cheer, “Yahtzee!” while another observer noted, “They don’t even bother hiding anymore.”
Informed of the event, Inversebrah commemorated the sale for the crypto community: “Its business.”
Other commentators examined Hayes’ past moves, making light of what they viewed as his questionable timing in Pendle trades. According to several analyses, he has likely incurred losses on his prolonged investment — even after his attempt to promote it at one of the globe’s largest crypto events with 20,000 participants.
Read more: What is @inversebrah?
However, these informal calculations depend on blockchain analytic firms’ classifications of Hayes’ wallets and may not provide a complete or authoritative record of his investments. It remains uncertain whether Hayes has gained overall from his various Pendle holdings and distributions.
In 2022, Hayes admitted to not preventing money laundering at BitMEX, for which he served time in prison, paid a $10 million fine, and has since returned to business endeavors.
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