Arthur Hayes sells Maelstrom’s directional trading book, takes profits on ETH and other tokens
Hayes sells Maelstrom directional book
On October 24, 2026, Arthur Hayes announced on X that he had sold the directional trading book of his firm Maelstrom. He said he took profits on Ether (ETH), Ethena (ENA), Uniswap (UNI) and other tokens and will stay on the sidelines because of macro‑economic and geopolitical risks.
Key numbers
- 8,000 ETH moved from Hayes‑linked wallets.
- 14 million ENA, 323 k UNI, 3 million ZAMA, 1.89 million ETHFI and 120 k PENDLE transferred out.
- 546 k AERO moved on Base.
- ~14.45 million ENA remained in the wallet after the transfers.
- 2.43 million USDC returned from a Wintermute address.
Blockchain transfer details
Ethereum explorer data shows four ETH transfers between 1:55 a.m. and 2:14 a.m. ET to addresses identified as Binance, Galaxy Digital and FalconX. Token transfers from a Hayes‑linked address (ending 447e21) sent 14 million ENA to a Binance‑labelled deposit, 323 k UNI and 3 million ZAMA to a Wintermute‑labelled address, 1.89 million ETHFI to a FalconX address, and 120 k PENDLE to another address. On Base, the same address sent 546 610 AERO to a Binance‑labelled address.
Another address (ending 8214D) that had received 8 012 ETH on Oct 14 moved the ETH out in four parts: 3 200 ETH to Galaxy Digital, 1 600 ETH to Binance, 1 600 ETH to FalconX and 1 600 ETH to an address linked to Flowdesk on Avalanche.
Remaining holdings
Even after the outflows, the Hayes‑linked wallet still holds about 14.45 million ENA, indicating that the sale did not include every crypto position.
Why the move matters
Hayes has previously cited macro risks, exiting his HYPE and NEAR positions in June. The current sell‑off follows his earlier Oct 15 statement that he was long Bitcoin and Ether, showing a shift from a bullish stance to a more cautious approach.
Future outlook
Hayes said he will “sit on the sidelines and wait for the all‑clear signal,” suggesting no immediate re‑entry plans until market conditions improve.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.