BitMEX co-founder Arthur Hayes sold his entire stake in Worldcoin just one day after pledging to hold the token, causing the asset's price to drop by 10 percent.

Key Points

• Arthur Hayes, CIO of Maelstrom, liquidated his firm's entire Worldcoin (WLD) position on Friday following a previous commitment to retain the asset.
• The sell-off occurred as pre-listing prices for SpaceX shares on the Hyperliquid platform declined by more than 50 percent.
• Hayes utilized Worldcoin as a liquid proxy for the broader artificial intelligence trade, specifically anticipating a positive impact from SpaceX's upcoming June 12 market debut.
• Worldcoin’s price fell 10 percent within 24 hours of the announcement, contributing to a broader decline in the cryptocurrency market.
• Despite the recent drop, Worldcoin maintains a 45 percent gain over the past month, down from a 70 percent increase earlier in the period.

Why it Matters

The rapid reversal by a prominent market influencer like Arthur Hayes highlights the extreme volatility and sensitivity of AI-themed crypto tokens to broader tech sector sentiment. This event underscores how retail investors use liquid digital assets as proxies for private equity performance, creating significant price swings when those underlying market indicators falter.