It’s one of those slow-burn moves… just a trail on-chain. Over the last seven hours, #ArthurHayes has been peeling off DeFi exposure, sending out chunks of $ENA , $ETHFI , and $PENDLE like he’s cleaning up the desk before the next idea hits.

First went the tokens, about 8.57M ENA, 2.04M ETHFI, and roughly 950K PENDLE. Then, a few hours later, the other side of the story shows up.......USDC starts rolling in.

He received 2.592M USDC from a Binance hot wallet, followed by another 2.361M USDC, and then a smaller but still telling 390K USDC from Wintermute. Add it up and you’re looking at around $5.34M in USDC landing back in his wallet.

So we guess it's like a clean sell, not a shuffle.