Arthur Hayes, founder of BitMEX, recently dove into the memecoin market, grabbing attention with a $500,000 investment split between $PEPE and $MOG
On September 27, Hayes bought $250,000 worth of PEPE and $250,000 worth of MOG, with the intention of making profits, maybe
At the time, memecoins were seeing wild surges, with #PEPE even spiking by 14% in just 24 hours fueled by broader crypto market activity
However, things didn’t go exactly as planned. Hayes later transferred the coins to a centralized exchange (CEX), and their value dropped to $460,000, all the way from $500,000
