Arthur Hayes Trades HYPE Tokens for a Ferrari, Says There’s No Cause for Concern

Arthur Hayes Sells HYPE for Ferrari as Maelstrom Flags $12B Supply Unlock – 22/9/2025

Arthur Hayes, BitMEX co-founder and chief investment officer at Maelstrom, has sold part of his personal Hyperliquid (HYPE) holdings to finance a Ferrari purchase, weeks after predicting the token could rise 126-fold by 2028.

Blockchain analytics service Lookonchain reported Hayes offloaded 96,628 HYPE, worth about $5.1 million, booking a profit of roughly $823,000 — a 19% gain in one month. Hayes confirmed the sale on X with his characteristic humor: “Need to pay my deposit on the new Rari 849 Testarossa.” The post drew criticism from traders who accused him of promoting HYPE in August before exiting.

Hayes defended the move, citing broader market concerns raised by Maelstrom. “This is why we dumped $HYPE today. But don’t worry — 126x is still possible; 2028 is a long way off,” he wrote.

Maelstrom also warned of upcoming token unlocks. Beginning Nov. 29, 237.8 million HYPE tokens will vest over two years, releasing nearly $500 million per month. At current prices around $50, this equates to approximately $11.9 billion entering circulation, with the firm estimating that Hyperliquid’s buyback program could absorb only 17% of the flow.

The firm cautioned that large vested allocations may prompt early developers and insiders to sell, potentially testing market liquidity, and noted that even major deals such as Sonnet’s $583 million HYPE purchase won’t fully offset the supply pressure.

Despite selling tokens, Hayes reaffirmed his long-term bullish thesis on Hyperliquid, which has grown into a leading player in decentralized perpetual futures. HYPE remains central to governance, staking, and fee distribution, and the market’s ability to absorb the upcoming $12 billion supply will be critical to the token’s performance.

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