BitMEX co-founder Arthur Hayes has fully exited his positions in two major crypto tokens — HYPE and NEAR Protocol — blaming a mix of geopolitical risk and a flood of upcoming AI stock listings. Hayes announced the liquidation on X on June 4, saying macro headwinds drove the decision.
Why Hayes walked away
In a post on the social media platform, Hayes pointed to two specific macro headwinds. One is the ongoing conflict involving Iran, which he sees as a destabilizing force for risk assets. The other is the pipeline of artificial intelligence companies preparing to go public — a wave he believes could divert capital away from the crypto sector. Hayes did not disclose the size of his original positions or the exact proceeds from the sale.
Tokens left behind
HYPE and NEAR are both tokens tied to blockchain projects with ambitions in decentralized finance and smart contract platforms. NEAR Protocol has positioned itself as a fast, low-cost alternative to Ethereum, while HYPE is associated with the Hyperliquid ecosystem. Hayes' exit removes a high-profile holder from both projects' investor bases, though it's unclear if the sales had any immediate impact on token prices.
A pattern of macro calls
Hayes has a history of making sweeping market calls based on global economic and political events. His decision to sell both tokens simultaneously suggests he sees the Iran situation and the AI IPO wave as converging threats — at least for the crypto assets he held. He has not indicated whether he plans to redeploy the capital into other cryptocurrencies, traditional markets, or simply hold cash.
What happens next
The market will watch for Hayes' next move. If he stays out of crypto, that could signal a broader shift among large holders who share his concerns. Meanwhile, the Iran conflict shows no signs of de-escalation, and the AI IPO pipeline — companies like CoreWeave and Cerebras have filed confidentially — continues to grow. Hayes has not posted any follow-up trades since the June 4 announcement.
