Arthur Hayes
Arthur Hayes's Family Office Funds Another Bitcoin Core Developer
Published
12 hours agoon
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adminMaelstrom, the family office of former BitMEX CEO Arthur Hayes, has awarded Jon Atack a one-year Bitcoin developer grant. He is the second recipient of Maelstrom’s grant program supporting open-source Bitcoin developers.
Jon is an experienced contributor to Bitcoin Core, having started in 2019. He was also recently made a maintainer of Bitcoin Improvement Proposals (BIPs).
In a statement, Arthur Hayes said, “We hope this financial support allows Jon to focus on his work on Bitcoin without worrying about income.” He emphasized the grant’s no-strings-attached nature, giving Atack freedom to work independently.
Bitcoin’s open-source codebase depends on voluntary developers, so grants help enable more contributors to work full-time. Proponents believe having more funded developers benefits Bitcoin’s ecosystem.
Jon said, “I’m concerned about human freedom, decentralization of power, individual empowerment, privacy and self-sovereignty. Bitcoin and open source software play a key part in striving for these causes.”
He plans to spend the year reviewing proposals and changes to improve Bitcoin Core and BIPs. Jon stated, “Bitcoin isn’t perfect. It needs further decentralization, continued vigilance, review, bug-fixing, updates, maintenance, and improved robustness, performance, privacy, scaling, documentation and user experience.”
Maelstrom aims to strengthen Bitcoin through no-strings grants to developers like Atack. Simultaneously, he is also receiving funding from another organization, OpenSats.
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Arthur Hayes
Whales buy Pendle after BitMEX co-founder sold it for a loss
Published
4 days agoon
September 22, 2024By
adminOn-chain data shows a large amount of Pendle inflow into whale addresses a day after Arthur Hayes, co-founder of the BitMEX crypto exchange, sold the asset.
Lookonchain’s X post shows that Hayes sold 1.59 million Pendle (PENDLE) for $5.62 million last week. This brought a $1.29 million loss to the former CEO of BitMEX.
Data shows that Hayes deposited and sold the Pendle tokens on Binance, the largest cryptocurrency exchange by trading volume.
Since the selloff, Pendle witnessed increased on-chain movements from large holders. According to data provided by IntoTheBlock, the token’s whale net flows shifted from 366,310 PENDLE in outflows to 436,860 Pendle in inflows on Saturday, Sept. 21.
The indicator shows that large holders accumulating Pendle have dominated the whales selling the asset.
Meanwhile, the number of large transactions consisting of at least $100,000 worth of Pendle declined from 30 to 17 on the same day, per ITB data.
On the other hand, the volume of large transactions has steadily increased since Sept. 19. In simple terms, only a few of the largest PENDLE holders might have accumulated the token after Hayes sold most of his holdings.
Pendle gained 28% in the past 24 hours and is trading at $4.29 at the time of writing. The asset’s market cap is hovering around $690 million with a daily trading volume of $380 million.
Notably, whale-dominated movements could usually bring high price volatility to a cryptocurrency as many holders will try to aim for short-term profits.
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Arthur Hayes
Arthur Hayes's Family Office Funds Bitcoin Core Developer
Published
5 days agoon
September 21, 2024By
adminMaelstrom, the family office of Arthur Hayes, has awarded the first grant from its Bitcoin developer program to contributor Rkrux. The funding will support Rkrux working full-time on Bitcoin Core.
Bitcoin relies on voluntary developers to maintain its codebase as an open-source project. Maelstrom recently launched a grant program to encourage more full-time work on improving and contributing to Bitcoin’s core infrastructure.
The first recipient is Rkrux, an emerging Bitcoin Core reviewer who completed Chaincode Labs’ FOSS program this year. The grant will enable Rkrux to quit his job and focus entirely on Bitcoin development.
“One of the goals of the grant program is to recognize and reward emerging talent contributing to Bitcoin Core development,” said Arthur Hayes, Maelstrom’s CIO.
Hayes added that supporting full-time developers strengthens the Bitcoin ecosystem. Rkrux represents the type of new talent Maelstrom hopes to back through its grants.
Rkrux said the funding came at the perfect time as he was deciding whether to leave his job to pursue Bitcoin Core full-time. “The financial support from Maelstrom has made this possible,” he remarked.
As an experienced engineer but newer Bitcoin contributor, Rkrux is eager to step into the role and advance the project. He aims to become a top Bitcoin Core developer with Maelstrom’s grant backing. The more full-time developers working on Bitcoin core, the better it is for the network’s improvement and resilience over time.
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Arthur Hayes Closes Bitcoin Price Short Position, Predicts Crypto Market Recovery
Published
3 weeks agoon
September 8, 2024By
adminBillionaire crypto investor and BitMEX co-founder Arthur Hayes anticipates crypto market recovery as US dollar liquidity is rising again. Hayes has also closed his short position on Bitcoin price, making a 3% profit on the recent market meltdown.
Veteran trader Peter Brandt revealed that Bitcoin price chart is forming a massive inverted head-and-shoulders pattern which is extremely bullish against gold.
Arthur Hayes Predicts Crypto Market Recovery
In an X post on September 8, crypto billionaire Arthur Hayes disclosed that he closed his Bitcoin short position. He predicts Bitcoin price and crypto market recovery next week, completely shifting away from his sub-$50K forecast earlier.
As CoinGape reported earlier, whales started buying the dips as sentiment turned towards a downfall below the $50K level.
The move comes in response to Treasury Secretary Janet Yellen’s market oversight and statement. Hayes says Bitcoin may gain upside momentum due to expectations of increased dollar liquidity.
Bad Gurl Yellen is watching, if markets go down more she will definitely pump up the jam by printing more money. pic.twitter.com/L81vc07as9
— Arthur Hayes (@CryptoHayes) September 7, 2024
In addition, Peter Brandt also turned away from earlier forecasts of a $46K low for Bitcoin. In response to BTC critic Peter Schiff, veteran trader Brandt said Bitcoin is bullish against gold as it sees massive inverted H&S pattern formation.
Notably, crypto market sentiment has slightly improved from “extreme fear” to “fear” over the last day. Crypto Fear & Greed Index climbed from 23 to 29 today.
Can Bitcoin Price Recover Despite CPI and PPI Inflation Data?
Crypto traders are still uncertain about crypto market recovery due to the upcoming consumer price index (CPI) on Wednesday and producer price index (PPI) on Thursday. Moreover, the spot Bitcoin ETF market lacks support from institutional investors due to September woes, with nearly $700 million in net outflow last week.
Economists and Wall Street expect the CPI to cool further to 2.6%, down from 2.9%. The slowing labor market and cooling inflation would give the FOMC enough reason to cut interest rates by 50 bps in September.
The CME Fed Watch tool currently indicates a 70% probability of a 25 bps rate cut in September. Also, a total of 100 bps Fed rate cuts this year.
Moreover, while the US dollar index (DXY) has climbed back above 101, the 10-year Treasury yield has dropped to 3.716%, a 15-month low due to softening labor market. This is in favor of Bitcoin price.
CoinGape analysis predicts high odds of Bitcoin price rally. Traders are watching the 50-week EMA, which also played a pivotal role in supporting the 2020 and 2021 bull market correction. If history repeats, a rebound from the 50-week EMA could drive BTC higher, likely triggering the bull run.
The next coming days into CPI Bitcoin will set the market direction for upcoming weeks. BTC price is currently trading at $54,300 and facing resistance after the slight rebound. A descending trendline breakout may target $57,000 if BTC successfully crosses above $55, 508, a 0.236 Fib retracement level.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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