Summary: Arthur Hayes is an American entrepreneur and former derivatives trader. He is the co-founder and CEO of BitMEX (now 100x Group), one of the world's largest cryptocurrency derivatives trading platforms.
As of July 2023, Hayes' net worth was estimated to be over $550 million based on his public wallet, private investments and earnings from founding BitMEX since 2013.
Who is Arthur Hayes?
Arthur Hayes (@CryptoHayes) is an entrepreneur and financial expert, best known as the co-founder and former CEO of BitMEX, a cryptocurrency derivatives trading platform. Hayes launched BitMEX in 2014 with co-founders Ben Delo and Samuel Reed.Before getting involved in the cryptocurrency industry, Hayes had a successful career in traditional finance. He earned a bachelor's degree in economics from the Wharton School of Business at the University of Pennsylvania in 2008. After graduation, he began working as an equity derivatives trader at Deutsche Bank and Citibank in Hong Kong.
However, his career has not been without controversy. In October 2020, the U.S. Commodity Futures Trading Commission (CFTC) charged Hayes, Delo, and Reed with operating an unregistered trading platform and violating multiple CFTC regulations, including anti-money laundering and know-your-customer rules. The U.S. Department of Justice (DOJ) also charged them with violating the Bank Secrecy Act.
What is Arthur Hayes' Net Worth?
Arthur Hayes, co-founder of BitMEX, has a net worth of $550 million. His wealth accumulation comes from various sources:
- BitMEX Earnings: BitMEX, being a top cryptocurrency exchange, provided significant income.
- Cryptocurrency Holdings: As a prominent figure in crypto, Hayes possesses large quantities of Bitcoin and other cryptocurrencies, which have appreciated massively since 2013.
- Public Wallet: Hayes' public wallet containing his DeFi investments like GMX and Lido shows over $11m in on-chain assets.
- Private Investments: Other private investments, in startups, established companies, or real estate, contribute to his wealth.
- Crypto Market Appreciation: The exponential growth of the cryptocurrency market since 2013 would have propelled the value of his crypto holdings.
Arthur Hayes Investments
Arthur Hayes' cryptocurrency wallet is doxxed, which means you can track his on-chain movements and investments in real-time. He currently has over $11 million in his public wallet and it is all invested in the GMX platform, with over 197,000 GMX tokens staked earning interest.
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Arthur Hayes Medium Blog
In early October of 2020, Arthur Hayes stepped down as acting CEO of BitMex and started a blog that is published on CryptoHayes Medium that provides commentary about macro financial markets and crypto. These articles have propelled Arthur to becoming one of the most popular thought leaders in the intersection of Macro and Digital Asset finance.
He regularly publishes news blogs and releases them via his official Twitter channel. Arthur Hayes' most recent prediction outlined below is $10,000 ETH by the end of 2022.
Arthur Hayes Legal Issues
In January of 2021, the United States Commodity Futures Trading Commission (CFTC) filed civil charges against Arthur Hayes for allegedly violating federal anti-manipulation laws. The CFTC alleged that Hayes engaged in "spoofing" (entering and cancelling orders to manipulate prices) in the market for Bitcoin futures contracts.
The CFTC's complaint also alleged that BitMEX, through Hayes and other employees, engaged in a number of illegal activities, including operating an unregistered derivatives trading platform and violating anti-money laundering laws. The CFTC is seeking civil monetary penalties, disgorgement of ill-gotten gains, and a trading ban against Hayes. On 05 May 2022, Arthur Hayes alongside his co-founders pleaded guilty to these charges and was sentenced to pay $10 million each, and two years probation with six months of home confinement.
Final Thoughts
In conclusion, Arthur Hayes, co-founder and former CEO of BitMEX, has had a significant impact on the world of cryptocurrency and digital asset finance. Despite his notable achievements, his career has been marked with controversies, including charges from the U.S. Commodity Futures Trading Commission and the U.S. Department of Justice for violating various regulations. His net worth is estimated to be $550 million, derived from BitMEX earnings, cryptocurrency holdings, and various investments. After stepping down from BitMEX in 2020, Hayes has become a respected thought leader in the financial world, providing insightful commentary on macro financial markets and crypto on his Medium blog.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
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