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Ethereum treasury firm Bitmine has announced plans to launch a public offering of 3 million shares of its 9.50% Series A Perpetual Preferred Stock as part of its strategy to further strengthen its position in the digital asset market.

The company has submitted an application to list the preferred shares on the New York Stock Exchange under the ticker symbol BMNP, with trading expected to begin within 30 days of issuance, subject to regulatory approval.

Funds to Support Ethereum Expansion and Corporate Growth

According to Bitmine’s filing with the United States Securities and Exchange Commission, the capital raised from the offering will be allocated toward several key initiatives. These include purchasing additional Ethereum and other digital assets, expanding staking and validator operations through the company’s MAVAN platform, supporting working capital needs, pursuing strategic investments linked to Ethereum and broader blockchain adoption, and potentially repurchasing common shares through its existing buyback program.

The preferred stock will pay cumulative dividends at an annual rate of 9.50 percent based on a stated value of $100 per share. Dividend payments will be made in cash whenever approved by the board of directors.

If declared dividends are not paid on time, unpaid amounts will accumulate additional compounded dividends on a weekly basis. The dividend rate may gradually increase until it reaches a maximum of 15 percent annually, remaining at that level until all outstanding obligations are settled.

Model Inspired by Strategy’s Preferred Stock Program

Bitmine’s offering follows a structure similar to the STRC perpetual preferred stock introduced by Strategy under the leadership of Michael Saylor. That product offers an annual dividend yield of 11.5 percent and has attracted investors seeking regular income while maintaining indirect exposure to Bitcoin.

Since its initial public offering in July 2025, STRC has raised approximately $2.52 billion and later expanded through additional issuances. The program currently carries a total notional value of about $10.5 billion.

Ethereum Accumulation Remains a Priority

Bitmine continues to aggressively expand its Ethereum reserves. The company revealed that it now holds approximately 5.42 million ETH, bringing it close to its goal of controlling 5 percent of Ethereum’s total supply. According to the firm, around 4.72 million ETH are currently staked, with a portion managed through the MAVAN staking platform.

This accumulation strategy has made Bitmine the largest corporate holder of Ethereum and the second largest cryptocurrency treasury company overall, trailing only Strategy.

However, Ethereum’s recent market performance has presented challenges. The asset has fallen more than 45 percent since the start of the year, leaving Ethereum treasury firms under pressure. Estimates suggest Bitmine is currently facing unrealized losses exceeding $10 billion on its holdings.

Despite these setbacks, Bitmine Chairman and Fundstrat co founder Tom Lee remains confident in Ethereum’s long term outlook. He continues to argue that the market is approaching the end of its bearish phase and believes a new period of growth for the cryptocurrency sector could soon emerge.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Spot Bitcoin exchange traded funds endured their most difficult week since launch, recording unprecedented outflows as Bitcoin’s price plunged to its lowest level in nearly two years.

These investment products are often viewed as a key indicator of institutional sentiment toward Bitcoin, making the latest wave of withdrawals particularly significant. With the cryptocurrency experiencing a sharp selloff, investors pulled capital from Bitcoin ETFs at a record pace.

Historic Outflows Hit Bitcoin ETFs

Data from SoSoValue highlights the severity of the situation. Bitcoin ETFs have now posted net outflows for four consecutive weeks, with losses consistently reaching billions of dollars.

The latest trading week marked the worst period in the funds’ history, with investors withdrawing approximately $1.72 billion. Not only did the outflows remain elevated, but they also accelerated week after week, signaling growing caution among market participants.

As a result, cumulative net inflows across all spot Bitcoin ETFs fell sharply from $59.34 billion to $53.94 billion during the four week downturn.

The current streak of withdrawals has surpassed the selling pressure witnessed after the early October market crash, when excessive leverage triggered widespread liquidations and sent overall market sentiment into a steep decline.

A closer look at daily flows reveals the extent of the damage. June 4 was the only positive session, attracting a modest $3.05 million in net inflows. Every other trading day ended in negative territory, with June 2 recording the largest single day outflow of the week at $519 million.

Between May 15 and June 5, the market saw just one day of positive net flows, while all remaining sessions were dominated by investor withdrawals.

Bitcoin Price Slides to New Multi Month Lows

The heavy ETF outflows coincided with a significant decline in Bitcoin’s market value. The cryptocurrency started both the week and the month near $73,000 before sellers regained control and pushed prices steadily lower through a series of sharp declines.

For months, buyers had successfully defended the $60,000 support zone, including during the market turbulence seen in early February. However, that level finally gave way on Friday as Bitcoin dropped to approximately $59,100, marking its lowest price since the period leading up to the United States presidential election in late 2024.

While the mass exodus from Bitcoin ETFs has been identified as a major factor behind the decline, the selloff was not limited to digital assets. Financial markets broadly came under pressure following a stronger than expected United States jobs report, triggering a wave of risk aversion across multiple asset classes.

The combination of weakening investor sentiment, heavy ETF withdrawals, and broader market uncertainty created a challenging environment for Bitcoin, resulting in one of its most significant weekly declines in recent memory.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

LAB, H, and BEAT emerged as the strongest performers of the day, each posting impressive double digit gains.

The cryptocurrency market has shown signs of recovery over the past 24 hours after Friday’s sharp selloff. Bitcoin has continued its rebound from below $60,000 and is now approaching the $63,000 mark. Major altcoins have also regained momentum, with Ethereum climbing toward $1,650 and XRP recovering above important support levels at $1.10 and $1.15.

Bitcoin Pushes Higher After Steep Decline

The past week was one of the most challenging periods for the crypto market in recent months. Bitcoin began the week trading near $73,000 before entering a sustained downturn. The leading cryptocurrency slipped below $70,000 and later fell to around $65,000 by midweek.

An attempt to recover toward $67,000 proved short lived, as selling pressure quickly returned. Conditions worsened significantly on Friday when bears drove Bitcoin below $60,000 for the first time since late 2024, a level that held even during the market turbulence seen earlier in the year.

One positive development was that the market weakness was not limited to digital assets. Traditional financial markets and gold also came under pressure, with losses accelerating following a stronger than expected United States jobs report.

After reaching its lowest point in months, Bitcoin staged a swift recovery. The asset quickly reclaimed $60,000, moved above $61,000 on Saturday, and has now climbed close to $63,000.

Bitcoin’s market capitalization has risen beyond $1.25 trillion, while its share of the overall cryptocurrency market remains above 56 percent.

Altcoins Join the Recovery

The broader altcoin market has also bounced back after suffering heavy losses during the recent correction.

Ethereum, which briefly dropped to around $1,500, has recovered to nearly $1,650 following a daily gain of about 4 percent. BNB is approaching the $600 level, while XRP has successfully reclaimed support at both $1.10 and $1.15 after falling as low as $1.05 on Friday.

Other major cryptocurrencies, including Solana, TRX, Dogecoin, RAIN, and XLMR, have recorded gains of up to 4 percent. ZEC continues to recover from recent fear, uncertainty, and doubt in the market, surging 8 percent to reach $400.

Additional gains have been seen across LINK, CC, SUI, SHIB, TAO, UNI, and WLD, all of which are trading higher on the day. Among smaller capitalization tokens, LAB, H, BEAT, SIREN, and M have delivered standout performances with double digit increases.

As a result of the widespread rebound, the total cryptocurrency market capitalization has recovered approximately $150 billion from Friday’s lows and now stands at around $2.24 trillion.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

While the broader cryptocurrency market endured one of its most difficult weeks in recent memory, XRP managed to find a small source of optimism. Despite the token’s sharp decline, exchange traded funds linked to XRP recorded positive inflows and finished the week in the green, a feat that most major crypto investment products failed to achieve.

XRP ETFs Defy Market Weakness

Although the inflow figures were relatively modest, they still stood out against the backdrop of widespread losses across the digital asset sector. XRP ETFs attracted a net $2.62 million in inflows during the week. While this falls far short of the strong demand seen shortly after launch, when the funds accumulated $1 billion in just over a month, it remains a noteworthy achievement given current market conditions.

By comparison, spot Bitcoin ETFs experienced significant outflows totaling approximately $1.7 billion during the same period.

The only negative day for XRP ETFs came on June 3, when investors withdrew $5.34 million. However, those losses were more than offset by inflows of $4.13 million on June 1 and $3.83 million on June 4. Trading activity on the remaining two days was largely unchanged, with SoSoValue reporting no meaningful net movement.

As a result, cumulative net inflows into XRP ETFs climbed to a new record high of more than $1.43 billion. Among the leading products, Bitwise’s XRP ETF maintained a slight advantage over Canary Capital’s XRPC. The two funds currently hold approximately $467 million and $458 million in assets, respectively.

XRP Price Suffers Heavy Losses

Despite the encouraging ETF performance, XRP’s market price was unable to escape the broader downturn affecting cryptocurrencies. During a week that saw Bitcoin fall from above $73,000 to roughly $59,000, XRP declined from $1.33 to $1.05.

The 21 percent drop pushed the asset to its lowest level since late 2024, shortly after the rally that followed the United States presidential election. Although XRP managed to stay just above the critical $1.00 psychological support level, its recovery has been limited, with the token continuing to trade below $1.10.

Market analysts remain optimistic about XRP’s long term prospects. However, even some of its strongest supporters, including EGRAG CRYPTO, caution that a move below the $1.00 mark could still occur unless overall market conditions improve significantly in the near future.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Strategy and Bitmine emerge as the biggest losers, recording staggering unrealized losses.

The cryptocurrency market has endured a severe downturn over the past week, with Bitcoin plunging to around $59,000 on Friday its lowest level in nearly 19 months. After shedding more than $20,000 in value within roughly three weeks, Bitcoin’s sharp decline triggered widespread losses across the broader crypto market, dragging most altcoins down with it.

The sell-off has significantly increased pressure on publicly traded companies with large cryptocurrency reserves. Data compiled by Lookonchain highlights the scale of the paper losses these firms are currently facing.

Strategy and Bitmine Suffer the Largest Losses

It is important to note that these figures can change rapidly, as cryptocurrency markets operate around the clock and prices remain highly volatile. Even so, the data paints a stark picture of the challenges facing major corporate crypto investors.

Leading the list is Strategy, led by Michael Saylor. The company, which holds the largest corporate Bitcoin treasury in the world, has aggressively accumulated BTC over the past 18 months. Despite selling a small portion of its holdings recently, Strategy still owns approximately 843,706 BTC.

With an average acquisition cost of roughly $75,600 per Bitcoin, the company has invested around $63.8 billion in its BTC position. At current market prices, those holdings are valued at approximately $51.6 billion, leaving Strategy with an unrealized loss exceeding $12 billion the largest paper loss in its history.

Although Bitmine’s crypto portfolio is considerably smaller than Strategy’s, its unrealized losses are not far behind. The company, chaired by Tom Lee, is currently sitting on more than $10 billion in paper losses tied to its Ethereum holdings. This comes despite Lee’s repeated assertions in recent months that Ethereum had likely reached its bottom and that a broader crypto recovery was imminent.

Other Major Corporate Holders Also Under Pressure

Like Bitmine, SharpLink has also been hit hard by Ethereum’s decline. According to Lookonchain’s figures, the company has seen the value of its ETH holdings fall by roughly $1.7 billion at current market prices.

Meanwhile, Metaplanet, often referred to as “Asia’s Strategy,” has accumulated unrealized losses of more than $1.4 billion on its Bitcoin investments. The Japanese firm aggressively purchased BTC throughout 2024 and 2025 as a hedge against currency weakness and broader economic uncertainty, though it has largely paused new acquisitions in recent months.

Forward Industries rounds out the list with approximately $1.14 billion in unrealized losses stemming from its Solana position. Given Solana’s typically higher volatility, the company’s exposure has amplified both potential gains and the severity of recent losses.#crypto#cryptonewshttps://coinsignals.net https://t.me/coinsignalpublic

Ethereum continues to lead the cryptocurrency industry in terms of user adoption, with blockchain data showing that it has significantly more holders than Bitcoin despite enduring a prolonged period of price weakness.

According to data highlighted by Lisk’s Head of Research, Leon Waidmann, Ethereum currently has approximately 189.5 million non empty wallets, making it the most widely held blockchain asset. In comparison, Bitcoin has around 59.1 million non empty addresses, meaning Ethereum’s holder base is more than three times larger.

Strong Adoption Amid Market Weakness

The figures underscore Ethereum’s widespread adoption and growing ecosystem, even as the network’s native token has struggled to maintain upward momentum.

Behind Ethereum and Bitcoin, Tether ranks as the third largest digital asset by holder count with roughly 13.6 million wallets. XRP follows with 7.8 million holders, while USD Coin (USDC) has approximately 6.8 million non empty addresses.

Despite its dominant user base, Ethereum’s market performance has remained under pressure. Over the past month, ETH has lost more than 30% of its value and was trading near $1,620 at the time of the report.

The decline has not only impacted retail investors but also institutions and publicly traded companies that built substantial positions in Ethereum.

Corporate Ethereum Bets Face Challenges

One notable example is FG Nexus, a Nasdaq listed company that adopted Ethereum as its primary treasury reserve asset. The firm began accumulating ETH around Ethereum’s tenth anniversary and had ambitions of becoming one of the largest corporate holders of the cryptocurrency.

However, the broader market downturn significantly affected the strategy. Reports indicate that the company realized losses exceeding $85 million after selling a sizable portion of its Ethereum holdings below its average acquisition price.

The situation highlights the challenges organizations face when maintaining large crypto treasury positions during periods of market volatility.

Technical Indicators Suggest a Potential Turning Point

While sentiment around Ethereum remains cautious, some analysts believe the current weakness could signal that the market is approaching an important inflection point.

Crypto analyst Michaël van de Poppe recently pointed out that Ethereum’s daily Relative Strength Index (RSI) has fallen to the lowest level ever recorded. The RSI is a commonly used momentum indicator that helps traders identify oversold and overbought conditions.

According to van de Poppe, such an extreme reading may indicate that selling pressure is nearing exhaustion and that the broader cryptocurrency market could be approaching the final stages of the current bearish cycle.

Ethereum ETFs Show Signs of Stabilization

Investor sentiment may also be improving in the spot Ethereum ETF market.

After experiencing 17 consecutive trading sessions of net outflows, spot Ethereum exchange traded funds recorded net inflows of $19.3 million on June 4. The entire inflow came from ETHA, while the other nine Ethereum ETFs reported no significant activity.

Although the positive day broke the lengthy outflow streak, Ethereum ETF products still ended the week with a combined net outflow of approximately $168 million.

Analysts at SoSoValue noted that the latest data may suggest investor demand is beginning to stabilize. However, they cautioned that a sustained recovery will likely require consistent inflows not only into Ethereum ETFs but also across the broader digital asset market.

For now, Ethereum presents a mixed picture: network adoption continues to expand at a remarkable pace, while price performance remains under pressure. Whether the growing holder base eventually translates into stronger market momentum remains one of the key questions facing investors in the months ahead.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

The cryptocurrency market has endured a difficult stretch in recent months, a stark contrast to the optimism that surrounded Donald Trump’s return to office and his promises of a more crypto friendly administration.

While digital assets initially surged on expectations of favorable policies, much of those gains have since disappeared. Today, many leading cryptocurrencies are trading below the levels seen on Inauguration Day and, in some cases, even below their prices before the 2024 election campaign gained momentum.

The Promises That Fueled the Rally

The 2024 U.S. presidential election became a defining moment for the cryptocurrency industry.

Many market participants viewed the election as a choice between two very different approaches to digital assets. Vice President Kamala Harris was largely expected to continue the regulatory direction established under the Biden administration, which many in the crypto sector considered restrictive.

Donald Trump, however, repositioned himself as a supporter of the industry. Despite previously expressing skepticism toward cryptocurrencies during his first term, he adopted a far more favorable stance throughout the campaign.

Trump repeatedly referred to himself as the “Crypto President” and made several high profile appearances aimed at winning support from digital asset investors. He spoke at major Bitcoin events, voiced support for cryptocurrency innovation, criticized regulatory pressure on the industry, and outlined ambitious plans for the United States to become a global leader in digital assets.

Among his most notable pledges were proposals to establish a national Bitcoin reserve, encourage domestic Bitcoin mining, and create a more welcoming regulatory environment for crypto businesses.

The message resonated strongly with investors. For an industry accustomed to regulatory uncertainty and political skepticism, Trump’s promises generated considerable enthusiasm. As a result, influential figures and companies across the crypto sector openly backed his campaign, hoping for a more favorable future.

From Euphoria to Disappointment

The market’s response was immediate.

Following Trump’s decisive election victory, Bitcoin and many alternative cryptocurrencies surged as investors priced in expectations of pro crypto policies. Optimism reached new heights with the launch of meme coins associated with both Trump and First Lady Melania Trump shortly before the inauguration, further fueling speculation across the market.

Although the rally experienced periodic setbacks, including volatility surrounding major economic and political developments, the broader trend remained positive for much of the year. Bitcoin, Ethereum, XRP, and numerous other digital assets went on to establish new record highs, reinforcing confidence that a new bull market had arrived.

That optimism, however, proved short lived.

A wave of market liquidations in early October triggered a sharp reversal, setting off a broader decline across the cryptocurrency sector. Selling pressure intensified in the weeks that followed, eventually pushing Bitcoin down to approximately $59,000, its lowest level since before the election period.

Most alternative cryptocurrencies suffered even steeper losses, erasing a significant portion of the gains accumulated during the post election rally.

A Harsh Reality Check

The contrast between expectations and reality has become increasingly difficult to ignore.

Despite the excitement surrounding Trump’s return to office and his promises to support the digital asset industry, cryptocurrency prices have struggled to maintain momentum. Bitcoin, Ethereum, XRP, and many other major tokens have fallen substantially from their highs, while the meme coins linked to the President and First Lady have lost nearly all of their peak value.

For investors who expected a new era of growth driven by political support, the market’s performance has served as a reminder that sentiment alone cannot sustain asset prices indefinitely. While policy developments remain important, broader economic conditions, investor risk appetite, and market cycles continue to play a dominant role in determining the direction of the crypto market.

As attention turns toward future regulatory actions and economic developments, traders are left assessing whether the current downturn represents a temporary setback or a more prolonged period of weakness for digital assets.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Financial markets suffered a sharp and unexpected selloff on Friday, wiping out trillions of dollars in value across major asset classes. The surprising part was that the trigger did not appear to be bad news. Instead, investors were reacting to one of the strongest U.S. employment reports seen in the last 18 months.

Analysts at The Kobeissi Letter broke down the chain of events and explained why markets responded so negatively to what seemed like encouraging economic data.

A Broad Market Selloff

The damage extended far beyond the cryptocurrency market.

Bitcoin plunged to around $59,100, its lowest level since November 2024, dragging most major altcoins lower and triggering more than $1.7 billion in liquidations. Yet digital assets were not alone in the decline.

Gold, traditionally viewed as a safe haven during periods of uncertainty, fell more than 4% in a single day, dropping from above $4,500 to roughly $4,315. U.S. equities also came under intense pressure. The S&P 500 erased approximately $2 trillion in market value during one trading session, while the Nasdaq 100 recorded seven consecutive hours of losses, marking its steepest decline since the market shock associated with President Trump’s “Liberation Day” announcement more than a year ago.

What made the selloff particularly confusing was that it accelerated after the release of a highly encouraging jobs report. Employment growth exceeded expectations and represented the strongest labor market performance in a year and a half. Even political leaders appeared puzzled by the market’s reaction.

Why Good News Became Bad News

The answer lies in how investors interpreted the economic data.

According to analysts at Nansen, strong labor market figures undermine expectations that the Federal Reserve will cut interest rates in the near future. For months, many investors had been betting on lower borrowing costs as a catalyst for risk assets such as Bitcoin and growth stocks.

A stronger economy changes that outlook.

Nansen explained that Bitcoin was already under pressure after a significant correction and still faced large amounts of leveraged positions waiting to be cleared. Without the prospect of rate cuts and with geopolitical tensions in the Middle East weighing on investor sentiment, risk assets had little support.

The Kobeissi Letter echoed that assessment. Analysts noted that the Federal Reserve’s first rate reductions in 2025 were largely driven by signs of weakness in the labor market rather than inflation reaching its target level. As long as employment conditions appeared fragile, investors expected policymakers to continue easing monetary policy.

Friday’s report challenged that narrative.

A Shift in Federal Reserve Expectations

The employment data revealed that job openings increased by more than 730,000 in April, far exceeding forecasts that anticipated little to no change. Total job openings climbed to 7.6 million, the highest level in two years.

These figures suggested that the labor market remains significantly stronger than previously believed.

As a result, investors rapidly reassessed their expectations for future Federal Reserve policy. Instead of anticipating multiple interest rate cuts, some market participants are now considering the possibility of rate hikes by early 2026.

Analysts described the shift as one of the most aggressive changes in Fed expectations since the period following pandemic era stimulus measures.

Additional Pressures on Markets

Several other factors may have contributed to Friday’s weakness.

Recent reports indicated that Meta is exploring plans to raise tens of billions of dollars through a stock offering to finance artificial intelligence investments. The move follows similar large scale funding initiatives by other technology giants and has raised concerns that major companies could flood the market with new equity issuance.

At the same time, investors are preparing for SpaceX’s highly anticipated public offering on June 12. Some analysts believe institutions may be selling existing holdings to free up capital for participation in the IPO.

Markets Were Due for a Pullback

When viewed together, the combination of stronger economic data, reduced expectations for interest rate cuts, inflation concerns, geopolitical uncertainty, and upcoming capital raising events created the perfect environment for a market correction.

Analysts ultimately concluded that the decline may have been a natural reset after a remarkable rally. With many markets gaining more than 20% in just two months, investors were already looking for reasons to take profits and reduce risk exposure.

Friday’s selloff provided exactly that catalyst, turning positive economic news into a trigger for widespread liquidation across stocks, commodities, and cryptocurrencies.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

As Bitcoin continues to navigate a challenging market environment, some of its earliest holders are beginning to reemerge. In a recent development, an anonymous investor redeemed a physical Casascius Bitcoin coin that had remained untouched for over 15 years, unlocking 25 BTC worth approximately $1.78 million at current market prices.

According to data shared by Galaxy Research, the redeemed token was an S1 COIN 25, one of the collectible Casascius coins produced between 2011 and 2013. The particular coin was minted in December 2011 and remained unopened until this week.

What Are Casascius Coins?

Casascius coins are physical representations of Bitcoin created by software engineer and early Bitcoin advocate Mike Caldwell. Unlike ordinary collectibles, these coins were loaded with real BTC and issued in various denominations, including 0.5, 1, 5, 10, 25, 100, and even 1,000 BTC.

Each coin features a public Bitcoin address on the exterior, while the private key is hidden beneath a tamper evident holographic seal on the back. Owners can access the funds by removing the hologram and revealing the private key.

The coins were produced in several formats, including brass, silver, gold plated versions, and gold plated bars. While some bars were designed to resemble solid gold bullion, they were actually made from metal alloys coated with gold. Production ceased in 2013 after Caldwell discontinued the project following regulatory concerns related to money transmission licensing requirements.

Although no longer manufactured, Casascius coins remain highly sought after by collectors and investors and continue to trade on secondary marketplaces.

From Novelty Items to Valuable Bitcoin Vaults

Originally, Casascius coins were created as educational and promotional tools to help people understand and discuss Bitcoin. Over time, however, they evolved into unique storage vehicles for digital assets.

What began as collectible conversation pieces has become a remarkable example of long term wealth preservation. Many of the coins were worth less than $100 when they were first created, but Bitcoin’s dramatic appreciation over the years has transformed them into assets worth hundreds of thousands or even millions of dollars.

Data from the Casascius tracker shows that 27,916 coins and bars were produced. Of that total, 10,479 have already been redeemed or opened, while thousands remain sealed. Collectively, the Bitcoin stored within these physical collectibles is now valued at more than $6.2 billion based on current market prices.

Dormant Bitcoin Holders Are Becoming Active Again

The latest redemption highlights a broader trend of long inactive Bitcoin holders returning to the market. As price volatility and market conditions continue to attract attention, wallets and physical Bitcoin assets that have remained untouched for years are increasingly showing signs of activity.

For many observers, these movements offer a rare glimpse into the behavior of Bitcoin’s earliest adopters and serve as a reminder of how dramatically the cryptocurrency’s value has evolved since its infancy.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Former BitMEX CEO Arthur Hayes is facing growing criticism from the cryptocurrency community after a series of high profile token sales that appear to contradict his earlier bullish outlooks.

Over the past several months, Hayes publicly expressed strong confidence in a number of altcoins, including Worldcoin (WLD), Zcash (ZEC), Hyperliquid (HYPE), and NEAR Protocol (NEAR). However, he has since revealed that he exited most of these positions well before the ambitious price targets he previously discussed were achieved.

The discrepancy between his public commentary and trading activity has fueled accusations that he may have contributed to market hype before selling his holdings at favorable prices.

Hayes Exits WLD Despite Earlier Optimism

Just days ago, Hayes stated that he intended to hold his Worldcoin position at least through the first week of a potential SpaceX initial public offering. He suggested that investor enthusiasm surrounding Elon Musk’s involvement with both projects could drive significant gains.

That outlook changed dramatically after a sharp decline in SpaceX’s stock price during Friday’s broader market selloff. In a recent update, Hayes argued that the stock’s performance was moving in the wrong direction and announced that he had sold his WLD holdings.

Blockchain investigator ZachXBT was among the first to challenge Hayes over the move, questioning how much “exit liquidity” may have been generated from followers who acted on his earlier comments. He also highlighted several other recent sales that followed bullish public statements.

One notable example involved ZEC. Hayes sold his position shortly after concerns emerged regarding a vulnerability in the Zcash codebase, despite reports that the issue had already been addressed. He had also previously exited positions in HYPE and NEAR after expressing confidence in their future performance.

Traders React to a Pattern of Selling

On chain analytics platform Lookonchain also drew attention to Hayes’ trading activity, noting that many of his exits occurred near local price highs.

Following the disclosure of these sales, several of the affected tokens experienced notable declines, erasing much of the momentum generated after Hayes’ optimistic forecasts. In many cases, prices returned to levels seen before his public endorsements.

The reaction on Crypto X was swift and largely negative. Critics accused Hayes of promoting assets shortly before selling them, arguing that retail traders may have been left holding positions after the hype faded.

Some users described the behavior as irresponsible, while others joked that traders who followed his calls had simply become victims of a larger and more experienced market participant.

Although there is no evidence of wrongdoing, the controversy has reignited debate about the influence of prominent crypto figures and the risks investors face when relying heavily on public personalities for trading decisions.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic