Arthur

Arkham

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 <p>BitMEX founder Arthur Hayes has reportedly sent more than $1 million worth of the decentralized exchange (DEX) altcoin GMX (GMX) to centralized exchanges.</p>
 <p>Pseudonymous on-chain analyst EmberCN tells their 79,700 followers on the social media platform X that Hayes had controlled the largest personal address for GMX holders since 2022.</p>
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 <p>On Sunday, the BitMEX founder transferred all his 237,000 GMX (worth $9.78 million) to a newly created address. That address subsequently sent 41,000 GMX worth $1.68 million to the centralized crypto exchanges Binance, OKX and Bybit, according to EmberCN.</p>
 <p>The analyst also says that the newly created address likely belongs to the algorithmic digital asset trading firm Wintermute.</p>
 <p><em>“This newly created address received gas from Wintermute, so it should belong to Wintermute. [Hayes’] GMX is probably entrusted to Wintermute for sale or OTC (over the counter) [trade].”</em></p>
 <p>Crypto analytics firm Arkham confirms Hayes’s abrupt transfer of GMX tokens.</p>
 <p>Hayes held the GMX at an average cost of $45 per token, according to EmberCN. The 225th-ranked crypto asset by market cap is trading at $41.54 at time of writing and is down more than 54% from its all-time high of $91.07, which it set nearly one year ago, according to CoinGecko.</p>
 <p>GMX specializes in perpetual futures and aims to provide low swap fees and low-price impact trading, according to the project’s website. The GMX token is used for staking and governance.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitmex-founder-arthur-hayes-sends-over-1-000-000-worth-of-gmx-tokens-to-centralized-exchanges-on-chain-data-tbt84886.html">https://thebittimes.com/bitmex-founder-arthur-hayes-sends-over-1-000-000-worth-of-gmx-tokens-to-centralized-exchanges-on-chain-data-tbt84886.html</a></p>

BitMEX Founder Arthur Hayes Sends Over $1,000,000 Worth of GMX Tokens to Centralized Exchanges: On-Chain Data

TheBitTimes

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