Arthur Hayes, the former BitMEX CEO and now head of Maelstrom, has exited his entire position in Hyperliquid’s HYPE token. Just days ago, Hayes publicly named HYPE as one of his firm’s top altcoin bets and projected a $150 price target, tying part of his broader bullish crypto view to the token’s strength. That makes his full exit, announced June 4, stand out; it’s more than a routine portfolio rebalance. The move involved roughly 247,000 HYPE tokens, worth about $18 million, and happened well below the level he’d recently called out.
Hayes linked the sale to a more cautious market outlook: higher energy prices, the run-up in artificial intelligence IPOs, and timing risk all played into the decision. He also sold his entire NEAR position. But for traders watching closely, what matters is the sudden gap between public conviction and private action. In a market where tokens can ride on a personality’s endorsement, that kind of reversal can land hard.
One of HYPE’s highest-profile backers has exited, and traders noticed.