ARTHUR HAYES LOST ~$47,000 ON THE FALL OF MEME TOKENS PRICES
The former head of the BitMEX cryptocurrency exchange Arthur Hayes, who until recently positively assessed the prospects of the meme coin market, suffered an unrealized loss of $47,000 as a result of trading two coins. This was noted by analysts Spot On Chain.
On September 27, Hayes spent $503,000 to buy 24.39 billion PEPE ($230,000) and 167.5 billion MOG ($223,000). On October 2, he transferred all the coins to the Binance and Bybit exchanges.
During this time, the total value of these meme coins in his account fell to $460,000. Thus, in the event of selling the tokens, his loss will be $47,000.
At the time of writing, Hayes' portfolio balance was $29.64 million, according to Spot On Chain.
Recall that in early September, the former BitMEX CEO reported closing a short position on the first cryptocurrency with a profit of 3%.
