PANews reported on September 20 that according to Lookonchain monitoring, Arthur Hayes sold 350,000 PENDLE tokens (worth about $1.26 million) in the past hour, which caused him to lose about $790,000 (-36%). He bought 392,911 PENDLE (worth about $2.2 million at the time) through Wintermute between May 20 and June 21, when the price was about $5.6. Three months later, the price of PENDLE fell by more than 40%, prompting him to sell at a loss.