Ethereum News Today: Arthur Hayes Sells $13.35M in Crypto as Market Falls 5% Amid Trump Tariff Fears

Arthur Hayes, the former CEO of BitMEX, executed a notable liquidation of 2,373 Ethereum (ETH) tokens valued at approximately $8.32 million, along with 7.76 million Ethena (ENA) and 38.86 billion Pepe (PEPE) tokens, totaling $13.35 million in assets on August 2, 2025 [1]. The sales occurred amid a broader market sell-off, during which Ethereum dropped below $3,600 in a 24-hour period, and Bitcoin fell to $113,000 within a day following Donald Trump’s announcement of new tariffs, triggering risk-off behavior across financial markets [3]. These transactions, carried out over six hours, added to the downward pressure on altcoins and increased volatility in the sector [1].

The move suggests a short-term bearish outlook, particularly among influential holders, as large-scale liquidations tend to amplify market sentiment and reduce liquidity, especially for smaller tokens like ENA and PEPE [1]. Hayes’ actions also align with broader trends seen in previous crypto cycles, where major holders offloading positions have historically led to temporary corrections. Analysts have identified this as the third significant profit-taking event in the current bull cycle, a pattern often associated with deeper market adjustments [1].

Interestingly, Hayes had recently bought 2.16 million ENA tokens for $1.03 million just over a week before the sell-off, indicating a prior bullish stance on the asset [1]. The ENA price had surged over 40% to $0.7 during that time, fueled by the launch of USDtb and a $260 million buyback by the Ethena Foundation. However, the abrupt market deterioration prompted Hayes to reverse his position, securing gains and reducing exposure to volatile assets. This reversal does not necessarily reflect a long-term shift in sentiment, as Hayes has previously expressed optimism about Ethereum’s potential to reach $10,000 and has continued to invest in Ethena at lower price levels [1].

The broader market remains fragile, with major geopolitical developments, such as Trump’s tariff announcement, adding to uncertainty. Spot Bitcoin ETFs experienced a record $812 million in outflows—the second-largest single-day loss ever—while Ethereum ETFs also saw significant redemptions. High-profile traders like Hayes often have a pronounced influence on market sentiment, particularly in a space where liquidity can be easily swayed by large institutional or individual moves [3].

Hayes’ decision to sell large portions of ETH, ENA, and PEPE appears to be a strategic risk-management move aimed at preserving capital amid heightened uncertainty. At the same time, his recent purchases of Ethena suggest he still sees value in the asset and may be positioning for a future re-entry as conditions stabilize. The market remains closely watching for further signs of stabilization or continued decline as traders and investors assess the implications of these high-profile decisions [1].

Source:

[1] Arthur Hayes Sells $13.35M in Crypto as Market Falls 5% ... (https://www.ainvest.com/news/ethereum-news-today-arthur-hayes-sells-13-35m-crypto-ethereum-drops-5-2508/)

[3] Arthur Hayes Sells $8.32M ETH, $4.62M ENA, and $414.7 ... (https://blockchain.news/flashnews/arthur-hayes-sells-8-32m-eth-4-62m-ena-and-414-7k-pepe-major-crypto-market-moves-tracked)