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Shilling Before Dumping? Why Crypto X Is Furious With Arthur Hayes After His Latest Sale

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Despite outlining bullish predictions for several popular altcoins in the past few months, such as WLD, ZEC, HYPE, and NEAR, Arthur Hayes has publicly declared that he has sold almost all of his positions long before his targets were reached.

This has caused a significant backlash from the cryptocurrency community, as some believe his hype is only to drag people into those assets before he dumps them at higher prices.

Hayes Continues Selling, This Time WLD

It was just several days ago that Hayes said he would be holding WLD for at least the first week of SpaceX’s IPO, as both have Elon Musk as a key person. He predicted that the IPO would “melt people’s faces off.”

Hours ago, though, he changed his tune after showing the chart of SpaceX’s stock getting wrecked on Friday during the market-wide calamity. He argued that the newly listed shares are heading in the wrong direction, which is why he decided to dump his WLD stash.

Popular on-chain sleuth ZachXBT was among the first to call out Hayes on his controversial moves, asking how much “exit liquidity was created” from his followers over the past few days. He also brought up other major sales from Hayes.

由于 报告 yesterday, the BitMEX co-founder disposed of his ZEC stash after developers revealed a Zcash code vulnerability that was already fixed at the time of his sale. Previously, he had also dumped HYPE and NEAR holdings after making some quite optimistic price predictions.

Community Lashes Out

The analysts at Lookonchain also flagged his exits, especially since they arrived close to the assets’ price tops. Interestingly, all of them plunged in the hours after he disclosed his exodus and have returned to essentially the same levels where they were before his big price predictions.

Some of the comments below the posts on X were quite brutal, calling it a “douchebag” move for shilling an altcoin just hours before dumping it. Others noted that if any traders followed his moves, they were “small scammers” that were “scammed” by the “big scammer.”

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