The cryptocurrency space is an attractive industry where many suspects tend to prove wrong, even veterans and veteran participants such as Arthur Hayes, co-founder of Bitmex.
As reported last week, current Maelstrom executives sold a large portion of his portfolio as they thought there was a deeper market-wide revision.
At the time, Hayes, along with Pepe and Ena Holdings, had disposed of more than $8 million in ETH. He then owned the move, saying the US Federal Reserve has once again decided not to lower key interest rates, which were a bearish sign in the crypto market.
He also pointed out that Trump’s foreign policy would bring more turbulence in the constantly volatile crypto market, which made him want to be on the sidelines.
At the time, that made a lot of sense (just a week ago), but with many cryptocurrencies turning red after Trump’s latest action and the nuclear submarine movement, the market usually tends to move in the opposite direction of what people expect.
In the past few days alone, many digital assets have posted significant price increases, including ETH. In fact, the second-largest cryptocurrency was destroyed by more than $4,000, marking a new multi-year high of $4,200. This means you won 20% in a week. This is in stark contrast to Hayes’ expectations that the price would drop to $3,000.
So Hayes took it to X again and said, “We have to buy it all back.” Obviously, he posted an Ethereum chart and referred to ETH ever since asking for forgiveness from Tomley, one of the biggest etheric supporters. Ah, he promised he would never make any profits again.
I had to buy it all, would you please forgive me @fundstrat?
I swear my little finger, I will never make any profit again.
pic.twitter.com/jrwfacepe6
– Arthur Hayes (@cryptohayes) August 9, 2025
