Altcoins

BitMEX Founder Arthur Hayes Sends Over $1,000,000 Worth of GMX Tokens to Centralized Exchanges: On-Chain Data

BitMEX founder Arthur Hayes has reportedly despatched greater than $1 million price of the decentralized trade (DEX) altcoin GMX (GMX) to centralized exchanges.

Pseudonymous on-chain analyst EmberCN tells their 79,700 followers on the social media platform X that Hayes had managed the most important private tackle for GMX holders since 2022.

On Sunday, the BitMEX founder transferred all his 237,000 GMX (price $9.78 million) to a newly created tackle. That tackle subsequently despatched 41,000 GMX price $1.68 million to the centralized crypto exchanges Binance, OKX and Bybit, in accordance to EmberCN.

The analyst additionally says that the newly created tackle doubtless belongs to the algorithmic digital asset buying and selling agency Wintermute.

“This newly created address received gas from Wintermute, so it should belong to Wintermute. [Hayes’] GMX is probably entrusted to Wintermute for sale or OTC (over the counter) [trade].”

Crypto analytics agency Arkham confirms Hayes’s abrupt switch of GMX tokens.

Hayes held the GMX at a mean value of $45 per token, in accordance to EmberCN. The 225th-ranked crypto asset by market cap is buying and selling at $41.54 at time of writing and is down greater than 54% from its all-time excessive of $91.07, which it set practically one yr in the past, in accordance to CoinGecko.

GMX focuses on perpetual futures and goals to present low swap charges and low-price influence buying and selling, in accordance to the challenge’s website. The GMX token is used for staking and governance.

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