Arthur Hayes, the founder of BitMEX, made a bold move into the meme coin world just a few days ago, splashing $500K on two trending tokens—PEPE and MOG. On September 27, after tweeting his support for these coins, along with another meme token, MOTHER, he bought $250K worth of PEPE and $250K of MOG.
But just six days later, Hayes made a swift exit. From his wallet address, 0x6cd66dbdfe289ab83d7311b668ada83a12447e21, he deposited his entire holdings—24.39 billion PEPE and 167.5 billion MOG—back to Binance and Bybit. The total value of these tokens had dropped to around $453K, meaning he took a hit of about $47K, or 9.4%, in less than a week.
It was a quick roundtrip in the volatile meme coin market, a stark reminder of the wild swings even seasoned investors like Hayes face in the crypto space.
