BitMEX Co-Founder Arthur Hayes Sells Worldcoin, Causes 20% Price Drop

Arthur Hayes, co-founder of crypto exchange BitMEX and chief investment officer at Maelstrom, sold the firm’s entire stake in Worldcoin shortly after affirming he would keep the token. Hayes made this announcement on June 6, 2026, linking his decision to a significant drop in the pre-listing prices for SpaceX shares, which have not yet begun trading.

A day prior to his sale, Hayes had indicated that Maelstrom would retain its Worldcoin holdings, suggesting that the token, tied to Sam Altman’s identity verification project, would serve as a liquid proxy for SpaceX’s stock. However, following the announcement of his exit, Worldcoin (WLD) plunged by about 20%, with a 10% drop occurring in the 24 hours leading up to the announcement. Hayes tweeted, "Dumped $WLD. I’m out. See y’all at the clerb," showcasing a chart that illustrated the decline of SpaceX stock.

Hayes cited the correlation between SpaceX and Worldcoin, referring to Worldcoin as an AI-themed token intended to capitalize on the growing excitement surrounding AI technologies. He indicated that a strong SpaceX stock launch could have broader implications for AI investments, as SpaceX has sought to position itself as a leader in AI and connectivity.

Why It Matters

The steep decline in Worldcoin's price following Hayes’ unexpected decision highlights the volatility often present in the crypto market, particularly as high-profile investors shift their positions quickly. Despite a recent rally where Worldcoin had risen approximately 70% over the past month, it has now seen a significant reduction in value, down to a 45% gain over the last week as a result of the recent sell-off.

Hayes' quick pivot from holding to selling his stake reflects rapidly changing investment sentiments in the crypto landscape, where confidence in emerging tokens can shift dramatically based on market news. As a prominent figure in crypto, Hayes’ actions can influence trader behavior, further agitating the already volatile market.

What to Watch

Market participants should monitor the price movements of SpaceX shares as they prepare for their stock market debut on June 12. Analysts will also likely keep an eye on how Worldcoin performs in the aftermath of Hayes' sale, as further market shifts could be forthcoming. Additionally, reactions from the broader crypto community regarding any changes in sentiment will be pivotal as the situation evolves.