BitMex Founder Focuses on Acquiring Meme Coins

From PENDLE to MOTHER, and even dog-themed coins, he appears to have shifted his focus from long-term altcoin accumulation to meme currencies. In a message to Australian rapper Iggy Azalea, Hayes hinted at the unexpected turn of events. Azalea’s $MOTHER has been dominating the meme currency charts for days, with an impressive 30% gain over the past week.

This comes just a day after Azalea revealed plans to launch a new social media platform where $MOTHER will be used as a primary payment method.

In parallel, blockchain analytics platform SpotOnChain has detected a series of sell-offs by Hayes involving PENDLE. He transferred 1.595 million PENDLE tokens to Binance and Bybit, which is expected to generate around $5.61 million.

Hayes added another 16.478 million Aethir (ATH) tokens from OKX, KuCoin, and Bybit to his massive ATH stash, bringing the total ATH to 62.257 million, worth around $4.144 million. ATH is up 8.8% and is an emerging altcoin backed by a company that specializes in providing powerful GPU computing solutions.

In Hayes’ public wallet, the largest asset currently is Ether (ETH), with a total value of nearly $23 million, including wrapped versions of Ethereum.

In June 2024, Hayes expressed support for the largest meme cryptocurrency, Dogecoin, when he declared that he “likes its wild and unpredictable volatility.” Since that tweet, both PENDLE and DOGE have fallen sharply. Dogecoin fell from $0.124 to $0.1069, while PENDLE plummeted from $5.35 to $3.96, officially dropping out of the TOP 100 list of cryptocurrencies by global market capitalization.