Summary: Arthur Hayes (@CryptoHayes) 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 2024, Arthur Hayes’ net worth was estimated to be over $550 million based on his public crypto wallet, private investments and earnings from founding BitMEX since 2013.
Arthur Hayes Background
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. He 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.
Arthur Hayes Net Worth
Arthur Hayes has amassed a significant net worth, predominantly from his ventures in the digital currency space. A former banker, he leveraged his expertise in traditional finance to navigate the volatile world of cryptocurrencies, contributing to BitMEX's rapid growth and success. His net worth as of 2024, while not precisely publicized, is estimated to be around the $550 million mark, reflecting the remarkable expansion and profitability of BitMEX under his leadership.
This estimation also considers the variable nature of cryptocurrency valuations, which can markedly influence the financial standing of key industry figures like Hayes. His story is a testament to the potential of combining traditional financial acumen with innovative crypto market strategies. Here’s a quick summary of how he made his fortune:
- BitMEX Earnings: BitMEX, being a top cryptocurrency exchange, provided significant income.
- Public Wallet: His 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.
What are Arthur Hayes Main 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 and earning interest.
Social Media and Online 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 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 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.
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.
