Arthur Hayes Shifts Funds from Ethereum to $6M in DeFi Tokens Including Pendle, Lido, and Others

Former BitMEX CEO Arthur Hayes has significantly reduced his Ethereum holdings, reallocating millions into DeFi tokens which he perceives have higher growth potential. Blockchain analytics firm Lookonchain reported that Hayes sold 1,871 ETH in the last two weeks of December, buying nearly $4.6 million in DeFi tokens such as Pendle, Lido DAO, Ethena, and Ether.fi. He later doubled down on his Ethena and Ether.fi investments, pushing his total reinvestment to over $6 million. This move comes after Hayes signaled a shift from ETH to DeFi earlier in the month. Despite some viewing this as a positive sign for the chosen DeFi sector, others have expressed caution, citing Hayes’ history of large-scale portfolio adjustments.