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Arthur Hayes dumps HYPE and NEAR as both tokens drop over 10%
Arthur Hayes exited HYPE and NEAR as Bitcoin flashed into the $60K danger zone, while Coinbase listed SpaceX perps and Robinhood shifted from Kalshi for World Cup markets.
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The crypto market woke up Thursday morning looking like a crime scene.
ETH slipped below $1,800. SOL dropped under $70. XRP hit $1.17.
Arthur Hayes added fuel by exiting HYPE and NEAR, sending both tokens down over 10% and sparking pump and dump accusations.
Meanwhile, major players are quietly repositioning for what comes next.
Coinbase and Robinhood are both racing to build new trading products.
Arthur Hayes liquidates entire HYPE and NEAR positions ahead of AI IPO wave
BitMEX co-founder Arthur Hayes just sold every token he held in Hyperliquid and NEAR Protocol.
Hayes, who runs investment strategy at family office Maelstrom Fund, is calling it a profit-taking move.
He teased a full explanation in an essay called "Reality Test" dropping next Tuesday.
With a crowded AI IPO calendar approaching, smart money appears to be rotating out of altcoins early.
Markets
Leveraged longs took the hit as Bitcoin briefly entered the $60K danger zone
A flash crash during Asia trading hours sent Bitcoin briefly below $62K late Wednesday.
Leveraged long positions accounted for $1.5B of the $1.8B in total liquidations.
US spot Bitcoin ETFs added fuel, with BlackRock's IBIT alone seeing nearly $1.2B in weekly outflows.
BTC traded near $64K, ETH slipped below $1,800, SOL fell under $70, and XRP sat at $1.17.
Coinbase launches SpaceX perpetual futures for traders outside the US
Coinbase now lets international traders bet on SpaceX's valuation before it goes public.
The product is structured as USDC-settled perpetual futures contracts.
Retail investors getting exposure to private companies used to require a country club membership. Not anymore.
Robinhood uses World Cup bets to test its own prediction market infrastructure
Robinhood is routing some World Cup event contracts away from partner Kalshi to the Rothera exchange.
The move signals Robinhood wants to own its prediction market plumbing, not rent it.
Kalshi just raised $185M at a $2B valuation. Losing Robinhood's flow would sting.
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