Arthur Hayes Exits HYPE, NEAR as AI IPOs Threaten Liquidity
Iris Coleman Jun 04, 2026 12:50
Arthur Hayes sells off HYPE and NEAR holdings, citing macro risks and looming AI IPOs. Tokens drop sharply as markets react.
Arthur Hayes, co-founder of BitMEX and a prominent crypto trader, has liquidated his holdings in Hyperliquid’s HYPE token and Near Protocol (NEAR), reversing his previously bullish stance. The move comes amid warnings of liquidity drains from upcoming AI initial public offerings (IPOs) and rising macroeconomic uncertainty.
In a post on X (formerly Twitter) on June 4, 2026, Hayes confirmed the sales, stating, "I think highs in markets will happen between now and September. Time to take profit." Blockchain analytics platform Onchain Lens reported that Hayes sold 247,334 HYPE tokens for $18 million, along with an undisclosed amount of NEAR. The announcement triggered a sharp selloff in both tokens. As of June 4, HYPE has dropped 7.77% in the last 24 hours to $67.21, while NEAR plunged 17.85% to $2.44, according to TradingView data.
The timing of Hayes's exit raises eyebrows given his recent bullish calls. Just months ago, in March 2026, he projected HYPE could hit $150 by August and suggested NEAR might see a 20x rally by 2027. His sudden pivot highlights his tendency to adjust positions based on macroeconomic conditions, rather than solely on token fundamentals.
Why Did Hayes Sell?
Hayes cited three main reasons for his exit: rising energy prices driven by geopolitical tensions in the Middle East, the anticipated liquidity impact of three "mega" AI IPOs—including those of OpenAI, Anthropic, and SpaceX—and political risks from the upcoming U.S. midterm elections. The trader speculated that former President Donald Trump might adopt an anti-AI stance to bolster Republican prospects, which could create additional market volatility.
The AI IPOs are expected to attract significant investor attention. OpenAI has reportedly prepared a confidential filing and could go public as early as September 2026, while SpaceX is targeting June 12. Anthropic may follow with its IPO in October. Analysts worry that these high-profile offerings could divert liquidity away from crypto markets, compounding existing pressures from rising interest rates and declining risk appetite.
Market Impact and Hayes's Trading History
The immediate market reaction to Hayes's announcement was swift. HYPE saw an intraday drop of 5.8% before recovering slightly, while NEAR's sharper decline of 19.5% reflects its lower liquidity and heightened sensitivity to large trades. Hayes’s wallet activity has historically influenced market sentiment due to his reputation as a high-conviction trader.
This isn't the first time Hayes has executed a tactical exit after a bullish call. In September 2025, he sold 96,628 HYPE tokens for $5.1 million shortly after predicting a 126x upside for the token. Despite the reversals, his public statements and trades often align with broader macro themes, suggesting his moves are part of a calculated strategy rather than simple profit-taking.
What’s Next?
The broader crypto market faces a challenging environment as macroeconomic pressures and AI IPOs loom large. Traders should monitor the impact of these offerings on liquidity, particularly as OpenAI’s IPO approaches in September. For HYPE and NEAR specifically, the absence of Hayes’s influence may push prices toward a more fundamentals-driven trajectory—although volatility is likely to persist in the short term.
Meanwhile, Hayes’s next moves will be closely watched. Given his history of high-profile trades and macro-driven strategies, the market may take cues from his positioning as the year unfolds.
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