BitMEX CEO owns largest GMX holdings – over 200K tokens

Co-founder and CEO of crypto exchange BitMEX, Arthur Hayes, currently owns the largest GMX (GMX) holdings — accounting for 200,580 tokens, according to Lookonchain.

Hayes collected 200,580 GMX tokens between Mar. 2, 2022, and Sept. 7, 2022, according to data shared by Lookonchain. Hayes spared a total of 3,386 Ethereum (ETH) for these purchases from the average purchase price of $28.5. This amount equated to around $5.72 million at the time. He also claimed 12,405  escrowed GMX(esGMX), which added another $818,744 to the pool.

CryptoSlate data shows that the GMX token is being traded for around $65.97 at the time of writing, which indicates that Hayes’s GMX reserve is worth around $13.23 million. This also reveals that Hayes’ GMX pool yielded over $7.5 million in profit.

GMX

Data from the end of 2022 pointed at GMX as the best-performing crypto during the bear market. Throughout 2022, the GMX token fell only by -23% — despite the devastating effects of the winter.

On Sept. 19, 2022, a malicious actor exploited GMX to steal $565,000 Avalanche (AVAX) tokens. In response, the GMX token recorded a 10% decrease at the time. On Jan. 4, 2023, a GMX whale address got attacked by hackers — losing $3.4 million worth of GMX tokens. The GMX token only fell by 3% following the incident.

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