Arthur Hayes, co-founder of BitMEX and Maelstrom, has exited his Worldcoin (WLD) position days after publicly backing the token, a move that triggered a sharp market reaction and renewed scrutiny of his trading pattern.
In a June 7 post on X, Hayes confirmed the sale while sharing a price chart tied to the SpaceX pre-IPO perpetual futures narrative that had supported his earlier thesis.
“This chart is going in the wrong direction. Dumped $WLD. I’m out. See y’all at the clerb,” he wrote.
The statement marked a clear reversal from his earlier stance. Just days before, Hayes had framed Worldcoin as a high-beta artificial intelligence play and encouraged followers to hold the token through a potential SpaceX-related catalyst.
This chart is going in the wrong direction. Dumped $WLD. I’m out. See y’all at the clerb. pic.twitter.com/TcfYzCmtSv
— Arthur Hayes (@CryptoHayes) June 6, 2026
Price swings follow rapid reversal
Worldcoin had gained momentum during the week. The token rose about 55% and briefly traded above $0.60. By June 7, the trend reversed. WLD fell back to around $0.40. This represented a drop of more than 25% following Hayes' exit announcement. HodlFM data placed the token near $0.47 with an 11% daily decline after the sell-off.
The decline erased a significant share of the weekly gains and cut roughly $190 million from the token’s market value, which stood near $1.55 billion. The pullback also brought WLD closer to levels seen before Hayes’ public endorsements.
Timing draws criticism from crypto community
The timing of the sale drew immediate criticism across social platforms. On-chain investigator ZachXBT questioned the broader impact of Hayes’ public calls.
“How much exit liquidity was created from your followers over the past couple days? First NEAR HYPE ZEC Now WLD,” ZachXBT wrote on X.
The criticism pointed to a pattern that extended beyond Worldcoin. Hayes had exited several positions within days of promoting them. On June 4, he disclosed that he sold his entire stakes in Hyperliquid (HYPE) and NEAR Protocol after previously describing HYPE as one of his strongest liquid investments and assigning it a $150 price target.
He then exited Zcash shortly after details emerged about a vulnerability in its Orchard shielded pool. Hayes stated at the time that privacy-focused assets require a high level of certainty and that his thesis no longer held under those conditions.
Hayes defends trading decisions
Hayes responded to the criticism on X and rejected claims of market manipulation. He stated that each trade followed his own objectives and market assessment.
“I just happened to call it right this time as it regards to my trading goals,” Hayes wrote.
He added that he sold to a willing buyer at a mutually agreed price and noted that the market could have moved higher after his exit.
He also pointed to changing macro and sector-specific conditions. In earlier posts, Hayes cited factors such as rising energy costs tied to geopolitical tensions, inventory cycles, expectations around AI-related IPOs, and uncertainty around artificial intelligence policy in the United States.
Broader pattern shapes market perception
Data cited by Lookonchain indicated that ZEC, NEAR, and WLD have returned to levels seen before Hayes’ public endorsements. This observation reinforced concerns about the short-term impact of high-profile trading calls on retail sentiment.
Arthur Hayes(@CryptoHayes) called $ZEC, $NEAR, and $WLD.
— Lookonchain (@lookonchain) June 6, 2026
He sold near the top, then disclosed his exit and turned bearish.$ZEC, $NEAR, and $WLD are now back to where they were before his calls. pic.twitter.com/IlvCqTHe3r
Blockchain analytics from Arkham Intelligence showed that a wallet linked to Hayes later purchased around 33,978 HYPE tokens worth approximately $2 million after the asset declined. The move added another layer to the narrative around his rapid portfolio shifts.
Hayes’ history also remains part of the discussion. He pleaded guilty in 2022 to a Bank Secrecy Act violation related to BitMEX and paid a $10 million fine.
Investor sentiment remains uncertain
Worldcoin, now rebranded as World, continues to attract attention due to its link to OpenAI CEO Sam Altman and its focus on identity verification through iris-scanning technology. The project aims to build a global identity and financial network based on proof-of-personhood.
The token’s structure and distribution model have drawn strong retail interest. That dynamic can amplify price movements when influential traders enter or exit positions.
Hayes’ decision to sell before the anticipated June 12 SpaceX IPO surprised traders who had viewed WLD as one of his highest-conviction AI-related bets. The shift has left questions about whether his calls will retain influence in the near term or face increasing skepticism.
The market now reflects a mix of caution and short-term recalibration. Price action and public responses indicate that confidence has not fully stabilized after the rapid sequence of trades.
Gunel Ismayilova
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that, despite the nature of much of the material created and hosted on this website, HODL FM operates as a media and informational platform, not a provider of financial advisory services. The opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice, HODL FM strongly recommends contacting a qualified industry professional.
