BitMEX CEO owns largest GMX holdings – over 200K tokens BitMEX CEO owns largest GMX holdings – over 200K tokens
Hayes's GMX holdings equate to over $13 million at the time of writing as his current profit is nears $8 million.
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Updated: Aug. 3, 2023 at 2:34 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Co-founder and CEO of crypto exchange BitMEX, Arthur Hayes, currently owns the largest GMX (GMX) holdings — accounting for 200,580 tokens, according to Lookonchain.
Hayes collected 200,580 GMX tokens between Mar. 2, 2022, and Sept. 7, 2022, according to data shared by Lookonchain. Hayes spared a total of 3,386 Ethereum (ETH) for these purchases from the average purchase price of $28.5. This amount equated to around $5.72 million at the time. He also claimed 12,405 escrowed GMX(esGMX), which added another $818,744 to the pool.
CryptoSlate data shows that the GMX token is being traded for around $65.97 at the time of writing, which indicates that Hayes’s GMX reserve is worth around $13.23 million. This also reveals that Hayes’ GMX pool yielded over $7.5 million in profit.
GMX
Data from the end of 2022 pointed at GMX as the best-performing crypto during the bear market. Throughout 2022, the GMX token fell only by -23% — despite the devastating effects of the winter.
On Sept. 19, 2022, a malicious actor exploited GMX to steal $565,000 Avalanche (AVAX) tokens. In response, the GMX token recorded a 10% decrease at the time. On Jan. 4, 2023, a GMX whale address got attacked by hackers — losing $3.4 million worth of GMX tokens. The GMX token only fell by 3% following the incident.
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Author 
Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades.
Ethereum
$3,626.13
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Avalanche
$42.4178
Avalanche is an umbrella platform for launching decentralized finance (DeFi) applications, financial assets, trading and other services.
BitMEX
HDR Global Trading Limited owns and operates BitMEX which is a trading platform that offers investors access to the global financial markets using only Bitcoin.
Arthur Hayes, a prominent figure in the world of cryptocurrency, co-founded the cryptocurrency exchange BitMEX and served as its CEO until recent events shifted his career trajectory.