According to data monitored by Lookonchain, a wallet address suspected to belong to BitMEX founder Arthur Hayes transferred 350000 PENDLEs to Binance and Bybit exchanges this afternoon.

It is reported that the address purchased 392000 PENDLEs through market maker Wintermute at an average price of $5.6 from May 20th to June 21st. But since then, the price of PENDLE token has dropped by nearly 40%, and today's sale resulted in a loss of approximately $790000 for the address.

Arthur Hayes has always been a staunch supporter of Pendle and has publicly expressed his optimism for Pendle's future development on social media platforms and offline events multiple times. Therefore, this sudden sell-off has led to a lot of ridicule and criticism in the community.

However, it should be emphasized that Arthur Hayes did not clear all PENDLE tokens. According to Etherscan data, a wallet address marked as Arthur Hayes 2 still has over 1.6 million PENDLEs pledged, with a total value of nearly $6 million.