Former BitMEX CEO Arthur Hayes is facing growing scrutiny after exiting four high-profile crypto positions in rapid succession: ZEC, NEAR, HYPE, and now WLD.
From “Holy Trinity” to Full Exit
The controversy stems from the fact that Hayes wasn’t just holding these tokens—he was actively promoting them.
In May, he referred to HYPE, ZEC, and NEAR as his “holy trinity.” Earlier this month, he highlighted Worldcoin as a standout performer and encouraged investors not to bet against Elon Musk.
According to crypto analyst Stacy Muur, WLD’s rally was closely tied to Hayes’ influence. The token surged from roughly $0.24 to $0.59 in three weeks, gaining about 68% even as the broader crypto market fell nearly 10%.
Part of the bullish thesis came from Hayes’ investment firm, Maelstrom, which argued that WLD offered retail investors a liquid way to gain exposure to the AI boom. While companies like OpenAI and Anthropic remain largely inaccessible to public investors, WLD traded at a much smaller valuation, leading Maelstrom to suggest a potential move toward $5.
How the Tokens Reacted
ZEC saw the sharpest decline after Hayes exited. The token plunged nearly 30% following disclosure of the Orchard Pool vulnerability and Hayes’ decision to sell his position.
HYPE and NEAR also weakened after his exits, though neither project faced a major negative catalyst at the time. Meanwhile, WLD has cooled from recent highs and slipped back toward the $0.50 range as enthusiasm around the AI narrative faded.
Exit Liquidity Debate Intensifies
The situation has fueled accusations that Hayes’ followers may have become exit liquidity.
While some traders view Hayes’ actions as normal profit-taking during a weakening market, others question why such bullish commentary was followed by rapid exits.
For now, the debate continues, with many investors watching closely to see whether Hayes is simply rotating capital, or whether his followers are being left holding the bag.
