Arthur Hayes transferred 237,000 GMX to the newly created address

According to on-chain analyst Yu Jin, as reported by Golden Finance, BitMEX founder Arthur Hayes has been holding GMX as the top holder since 2022. He has been holding GMX for a long time, with a cost of about $45 (excluding the earnings from staking). Half an hour ago, he transferred all of his GMX holdings (237,000 coins, worth $9.78 million) to a newly created address.

This address then transferred 41,000 GMX coins ($1.68 million) to Binance, OKX, and Bybit. The new address received Gas from Wintermute, which should belong to Wintermute. It is highly likely that his GMX was entrusted to Wintermute for sale or OTC.