‘DUMP’ Button: Arthur Hayes Sends $22.28 Million Maelstrom Book to the Sidelines

BitMEX co-founder and Maelstrom Fund chief investment officer Arthur Hayes sold the firm’s entire directional trading book, exiting roughly $22.28 million in Ethereum ($ETH), Ethena ($ENA), Uniswap ($UNI) and other altcoins. Hayes confirmed the transaction on X on October 24, 2026.

Hayes wrote: “I dumped it all. The Maelstrom directional book, took profits on $ETH, $ENA, $UNI and other shitcoins. I think we gotta go down to go up. It looks a bit dicey out there in macro and geopolitical land. Going to sit on the sidelines and wait for the all clear signal … Brrrrr.”

On-chain data from Lookonchain confirmed the scale of the exit. The sales included 6,400 ETH, alongside positions in $ENA, $UNI and other altcoins, bringing the reported value of the directional book to approximately $22.28 million.

Hayes has reversed course following earlier sell announcements, which have also moved crypto markets. The report noted that HYPE dropped 4% following a previous Hayes exit.