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The founder of the major cryptocurrency exchange BitMEX, Arthur Hayes, has made a move with his altcoins.

According to information provided by the blockchain analysis platform Debank, Arthur Hayes sent approximately 41,000 GMX coins worth $1.68 million to exchanges.

With a total value of $9.78 million in GMX, Hayes bought them at an average of $45 per unit in 2022. According to CoinGecko data, GMX lost 12.5% in value weekly and is trading at $37.7.

Due to the decrease in the coin price, Hayes may have suffered a loss of over $200,000. However, the staking rewards Hayes received in GMX may be enough to cover this loss.

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