Arthur Hayes' alleged address locks $8.4 million of PENDLE

IconCryptoNewsTerminal Staff11 Jun, 2024

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Arthur Hayes' alleged address locks $8.4 million of PENDLE

Arthur Hayes, co-founder of BitMEX, has allegedly locked 1.65 million PENDLE ($8.4 million) on his alleged address, according to on-chain data analytics provider Lookonchain. The locked funds will be released on September 5. The reason for the lock-up is unknown, but it is worth noting that Hayes has been a vocal critic of the cryptocurrency market in recent months. In May, he predicted that Bitcoin would fall to $10,000, and he has also warned of the risks associated with decentralized finance (DeFi). It is possible that Hayes' decision to lock up his PENDLE is a sign that he is expecting further volatility in the cryptocurrency market. However, it is also possible that he is simply taking advantage of the high interest rates that are currently available on DeFi platforms. Only time will tell what Hayes' intentions are, but his latest move has certainly caught the attention of the cryptocurrency community.

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