Arthur Hayes, the renowned founder of cryptocurrency exchange BitMEX, achieved an impressive profit of $4,916,006 with his investment in Pendle (PENDLE) tokens. This innovative project focuses on the tokenization and trading of future returns, capturing the attention of investors with its unique proposition.

Hayes’ interest in Pendle tokens is not new. According to data obtained by Chinese reporter Colin Wu, a wallet linked to Hayes carried out a significant transaction just eight hours ago, exchanging $510,545 in USDC stablecoins for 98,560 PENDLE tokens through market maker Wintermute. This investment is just one part of a series of acquisitions by Hayes, which began in June 2023 when he acquired 100,000 tokens from an undisclosed source. Since then, Hayes has continued to grow his portfolio, purchasing an additional 1.2 million tokens through Binance between September 2023 and March 2024.

Prior to the most recent trade, Hayes had already acquired an additional 57,000 Pendle tokens from Wintermute two days earlier, bringing his total holdings to 1,555,697 Pendle coins, currently valued at $8,058,514.

Colin Wu’s calculations suggest that Hayes purchased his tokens at an average price of $2.02 per unit, while Pendle’s current market cap is $5.12 per token. These numbers indicate that the founder of BitMEX spent around US$3,142,507 to build his portfolio, which provided him with a substantial return, more than doubling his initial investment.

In a recent blog post, Hayes expressed his interest in further diversifying his holdings, including acquiring Solana and several meme coins, targeting more dynamic trading positions. He also revealed plans to continue expanding his Pendle holdings for long-term speculative investments, and is looking for additional token purchasing opportunities throughout May.

Additionally, Hayes highlighted his role as a consultant and investor in the Pendle project, mentioning that he was compensated with Pendle tokens for his consulting work.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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