Arthur Hayes Liquidates NEAR and HYPE Holdings, Warns of AI IPO Liquidity Drain

BitMEX co-founder Arthur Hayes has exited his entire positions in NEAR and HYPE tokens, liquidating approximately 247,334 HYPE tokens worth roughly $18.02 million across OKX, Bybit, and Flowdesk on June 4. The move signals Hayes' concern that a wave of artificial intelligence IPOs could siphon capital away from crypto markets before September 2026.

Hayes is repositioning his portfolio toward Worldcoin (WLD), betting that the token's anticipated IPO will offer better risk-adjusted returns than the assets he just sold. The timing reflects a calculated profit-taking move ahead of what Hayes sees as a crowded IPO calendar that could drain liquidity from digital assets. Major AI firms have signaled plans to go public in the coming months, and Hayes appears convinced that institutional capital reallocation will pressure crypto valuations.

Hayes' track record lends weight to his warnings. The BitMEX founder has previously made high-profile trading calls that preceded periods of increased market volatility. His decisions often serve as a signal for broader sentiment shifts among sophisticated traders. This liquidation, combined with his explicit warning about a September peak, suggests he is preparing for a potential correction or extended consolidation period.

The move highlights a broader tension in crypto markets. As traditional finance increasingly intersects with digital assets through IPOs and institutional adoption, traders must weigh exposure to crypto-native tokens against opportunities in newly public tech companies. Hayes' exit from NEAR and HYPE in favor of WLD reflects this calculation: he's not abandoning crypto, but rather making a selective bet on which crypto-related assets will outperform during a period of heightened institutional capital flows elsewhere.

For NEAR and HYPE holders, Hayes' move raises questions about whether the broader market shares his concerns about September weakness and AI IPO competition. His shift to WLD ahead of its IPO could also be read as a contrarian signal by investors who believe NEAR and HYPE have been oversold during the recent downturn. The true test of Hayes' thesis will come if major AI IPOs absorb significant institutional capital over the next three months, or if crypto markets prove resilient to that competition.