Famous Crypto Founder Dumps Millions Into Ethereum, Here’s What He’s Buying
Arthur Hayes, the founder of BitMEX, took the attention of the market after making ia Ethereum stock exchange rates and a select group of decentralized financial tokens. The on-chain data, later reinforced by his public comments, shows a deliberate pooling of fees into certain DeFi rules that he believes are set to be more efficient as liquidity conditions change.
Ethereum Was Sold, Not Abandoned
Blockchain data shows that in two weeks, Hayes reduced his Ethereum exposure by selling a total of 1,871 ETH, with an estimated value of $5.53 million at the time of execution. This was not a one-off, as the sale of ETH was closely followed by a series of DeFi purchases, indicating that Ethereum has been used as a source of funds in lieu of the property he came from due to the conviction.
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This pattern is consistent with Hayes’ broader view of Ethereum’s role in the market. ETH continues to serve as the underlying infrastructure and productive collateral, while a large portion of the growing profits have moved to contracts that live closer to production activity and cash flow. Hayes had already signed off on this thinking earlier, having adjusted ETH exposure in August, making the recent sell-off part of continuous redistribution there is a sudden reversal.
Hayes later strengthened foundation publicly, stating that his portfolio revolved around ETH and “high-quality DeFi names,” based on the expectation that these assets may move into the realm of improving fiat liquidity. The speed and communication of commerce suggests a clear movement driven by macros rather than strategic assumptions.
The Thesis Behind Pendle, Lido DAO, Ethena, And Ether.fi Purchases
Following the sale of ETH, Hayes also invested in all four DeFi protocols, each targeting a different part of DeFi. Ethereum trading currency. The initial purchase included 961,113 PENDLE worth approximately $1.75 million, indicating exposure to token acquisition and on-chain fixed income markets. He also won 2.3 million LDO worth about $1.29 million, he entered liquid staking infrastructure which continues to play an important role The cost of Ethereum shares.
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Additional shares went to Athena and Ether.fi, and Hayes shopping 6.05 million ENA worth about $1.24 million and 491,401 ETHFI worth about $343,000. A few minutes later, on-chain trackers reported the next purchase, showing Hayes doubling up in two positions. He added an additional 4.86 million ENA worth close to $986,000 and 697,851 ETHFI worth around $485,000, pushing the DeFi deployment well beyond the initial allocation.
The structure of this transaction. Pendle aims to generate markets, Lido anchors staking liquidity, Athena focuses on synthetic dollar mechanics, and Ether.fi captures the growing yield of reclamation. Together, they create strong exposure to maturity, financial performance, and adoption of the infrastructure standard narrative-driven commerce.
Hayes’ actions underscore a consistent message: Ethereum remains the base layerbut he sees the strongest opportunities for risk adjustment in DeFi protocols that actively convert ETH into productive, income-linked assets.
The featured image was created with Dall.E, a chart from Tradingview.com
