BitMEX co-founder Arthur Hayes pushed back against criticism that his social media posts serve as “exit liquidity” for followers. He said disclosing crypto positions should not be seen as investment solicitation and that investors must make their own decisions. The dispute was raised by on-chain analyst ZachXBT, who accused Hayes of talking up tokens and later selling. Hayes said he often gets market calls wrong and described his capital allocation approach. On-chain data showed recent ether purchases.

BitMEX co-founder Arthur Hayes has come under criticism from on-chain investigator ZachXBT after unwinding positions in tokens he had publicly backed. ZachXBT questioned whether Hayes used investors as “exit liquidity” after Hayes sold holdings in NEAR Protocol, Hyperliquid’s HYPE, Zcash’s ZEC and Worldcoin’s WLD within a short period. Hayes rejected the allegation, saying he simply sold at a fair price to willing buyers.