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Arthur Hayes closes Maelstrom directional book, offloading altcoins over macro risks

Arthur Hayes announced he closed Maelstrom's directional trading book, taking profits on Ether, ENA, UNI, and other altcoins amid macro and geopolitical uncertainty.

Portrait photograph of Arthur Hayes smiling against a solid blue background.
Image: @WuBlockchain

Arthur Hayes announced on social media platform X that he "dumped it all," closing out Maelstrom's directional trading book. He stated that the fund took profits on Ether (ETH), Ethena (ENA), Uniswap (UNI), and other altcoins, citing a worsening global outlook. Hayes wrote that conditions look "a bit dicey out there in macro and geopolitical land," suggesting the market might have "to go down to go up" and adding that he will stay on the sidelines until an "all clear" signal emerges.[1][2]

According to reporting by Coin Bureau, Maelstrom liquidated roughly $22.3 million in altcoin holdings. The sales reportedly included 6,400 ETH valued at $15.2 million, 14 million ENA worth $2.76 million, and 323,000 UNI valued at $2.24 million, alongside positions in ETHFI, AERO, PENDLE, and ZAMA. Coin Bureau noted the shift occurred nine days after Hayes had shared bullish views on Bitcoin and Ether.[3]

Key facts

  • Arthur Hayes announced that Maelstrom closed its entire directional trading book to take profits on ETH, ENA, UNI, and other tokens.
  • Hayes cited macroeconomic and geopolitical uncertainty for the exit, stating markets may need to drop before rising and that he will wait on the sidelines.
  • Coin Bureau reported that Maelstrom liquidated roughly $22.3 million in altcoin positions.
  • Reported sales included 6,400 ETH ($15.2 million), 14 million ENA ($2.76 million), 323,000 UNI ($2.24 million), and positions in ETHFI, AERO, PENDLE, and ZAMA.
  • The liquidations came nine days after Hayes shared bullish views on Bitcoin and Ether.

Sources · 3 sources

  1. DN

    DEGEN NEWS@DegenerateNewsPost on X ·

    NEW: @CryptoHayes ANNOUNCES “I DUMPED IT ALL” “THE MAELSTROM DIRECTIONAL BOOK, TOOK PROFITS ON $ETH, $ENA, $UNI AND OTHER SHITCOINS” https://t.co/mM68oxyqpC

    Open source
  2. WB

    Wu Blockchain@WuBlockchainPost on X ·

    Arthur Hayes: Maelstrom Has Closed Its Directional Positions, Taking Profits on ETH, ENA and UNI Arthur Hayes said Maelstrom has closed all positions in its directional trading book, taking profits on ETH, ENA, UNI and other altcoins. He believes the market may need to fall before rising, citing uncertainty surrounding macroeconomic and geopolitical conditions. He plans to remain on the sidelines and wait for an all-clear signal.

    Open source
  3. CB

    Coin Bureau@coinbureauPost on X ·

    🚨MASSIVE: Arthur Hayes says “I DUMPED IT ALL” as Maelstrom liquidates roughly $22.3MILLION in altcoin positions. The fund reportedly sold - 6,400 ETH ($15.2M), - 14M ENA ($2.76M), - 323,000 UNI ($2.24M), - and additional positions in ETHFI, AERO, PENDLE and ZAMA. The move comes just nine days after Hayes shared bullish views on Bitcoin and Ether. He now cites growing macro and geopolitical uncertainty, warning that markets could drop further before rebounding.

    Open source