Arthur Hayes, the founder of BitMEX, has made headlines in the meme coin news by adjusting his investment strategy. Recently, he expressed a pivot towards meme coins as part of his portfolio diversification.
Despite his enthusiasm for meme coins, Hayes faced setbacks as he exited his positions in PEPE and MOG, incurring losses of $40,000. This decision was made just days after he began investing in meme coins.
On Thursday, during the early hours of the Asian trading session, Hayes transferred his holdings of PEPE and MOG to a centralized exchange. These assets had dropped in value to $460,000 after his initial investment of $252,000 for 24.39 billion PEPE on September 27, alongside an additional $250,000 in MOG.
Hayes' experience highlights the volatility and risks associated with investing in meme coins. His recent exits underscore the unpredictable nature of this sector.
