Arthur Hayes Buys 7.76M Ethena Tokens as USDtb Partnership Drives 86% Price Surge

Arthur Hayes, co-founder of the now-defunct BitMEX exchange, has acquired 2.16 million Ethena (ENA) tokens, valued at approximately $1.03 million, marking a significant accumulation in the cryptocurrency market. The purchase, executed through exchanges including Binance, Galaxy Digital, and Flowdesk, elevates Hayes’ total ENA holdings to 7.76 million tokens, now worth $3.73 million, according to blockchain analytics firm Arkham. This move underscores his confidence in the project’s long-term vision and aligns with Ethena’s recent strategic partnership with Anchorage Digital, a U.S.-based crypto custodian, to launch a stablecoin under the newly enacted GENIUS Act [1].

The timing of Hayes’ investment coincides with Ethena’s expansion into the U.S. market, where the stablecoin USDtb—backed by real-world economic instruments—is set to gain regulatory clarity under the Act. The legislation, signed into law by U.S. President Donald Trump, has spurred interest among crypto firms seeking to develop compliant digital assets. Hayes’ purchase has further fueled momentum for ENA, which has surged 25% in the past week and nearly 86% over the last month. As of the latest data, the token trades at $0.5573, with daily trading volume rising 51.64% to exceed $1 billion [2].

Hayes has been vocal about his optimism for ENA, previously forecasting that the token could double in value and potentially reach $1. His growing stake and public advocacy position him as a key long-term backer of Ethena’s synthetic dollar protocol. The partnership with Anchorage Digital is expected to enhance USDtb’s utility and credibility, bridging DeFi and traditional finance sectors. Analysts suggest that the GENIUS Act’s framework could accelerate adoption of regulated stablecoins, though the token’s performance remains speculative [3].

Hayes’ investment strategy reflects a broader trend of high-profile figures betting on regulated crypto infrastructure. His prior experience with BitMEX and current role as CEO of Bybit lend credibility to his endorsements. However, the volatile nature of crypto markets means the success of Ethena’s initiatives will depend on execution, regulatory developments, and sustained institutional interest.

Source: [1] [title1] [url1](https://coinmarketcap.com/community/articles/68836a71d9d19935252ecdde/) [2] [title2] [url2](https://coinmarketcap.com/community/articles/68836a71d9d19935252ecdde/) [3] [title3] [url3](https://coinmarketcap.com/community/articles/68836a71d9d19935252ecdde/)