BitMEX Co-Founder Arthur Hayes Suffers Significant Losses on PENDLE Investment Blockchain analytics firm Lookonchain has analyzed that via address X, a presumed address of BitMEX co-founder Arthur Hayes, sold 350,000 PENDLE ($1.26 million) in the past hour, leading to a substantial loss of $790,000. The address had previously purchased 392,911 PENDLE ($2.2 million) via Wintermute between May 20 and June 21 at an average price of $5.6, resulting in a loss of 36% as PENDLE's value plummeted by over 40%. These losses highlight the volatility and risks associated with cryptocurrency investments. Even experienced investors like Hayes can incur significant losses when market conditions turn unfavorable.