Arthur Hayes Dumps Worldcoin Days After Bullish Call, Sparks Exit Liquidity Accusations
Arthur Hayes, co-founder of BitMEX, sold his entire Worldcoin (WLD) position on June 6, just days after publicly urging followers to hold the token. The move drew accusations from the crypto community that Hayes created exit liquidity for his own followers, with on-chain sleuth ZachXBT linking it to a pattern of similar reversals. Hayes had earlier promoted WLD as a high-beta bet on artificial intelligence, citing an expected SpaceX listing. Prior to the dump, WLD had surged roughly 55% in a week, but fell 11% on the day of the sale, erasing about $190 million in market cap. The incident is part of a broader trend where Hayes unwound four altcoin positions in a week, including NEAR, HYPE, and ZEC, each following public bullish statements. Critics point to his 2022 guilty plea for a Bank Secrecy Act violation as a source of distrust. Hayes defended himself, stating he sold at a fair price and was merely executing his trading strategy. The episode raises questions about the influence of prominent traders on retail investors.
Key facts
- Arthur Hayes sold all WLD on June 6 after urging holders to stay days earlier.
- WLD price fell 11% in 24 hours, losing ~$190M market cap.
- ZachXBT accused Hayes of creating exit liquidity for followers.
- Hayes also dumped NEAR, HYPE, and ZEC positions earlier that week.
- Hayes defended his trade, saying he sold to a willing buyer at a fair price.