Arthur Hayes sells $22 million in crypto and warns of more pain ahead

Arthur Hayes, chief investment officer of his family office Maelstrom, confirmed on X that he sold about $22.28 million in crypto from the firm's directional book and plans to sit out the market. The exit marks a reversal from earlier this month, when on October 15 he urged traders to go long Bitcoin. A high-profile figure liquidating and warning of more pain can weigh on sentiment, though the sale is modest relative to overall market size.