Arthur Hayes Buys ETHFI Before Upbit Listing, Raises Insider Concerns
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- Arthur Hayes received 132,730 ETHFI before listing, raising insider trading concerns.
- ETHFI rose from $0.54 to $0.60 after Upbit announced KRW trading support.
- A month earlier, Hayes moved 2.15M ETHFI; Ether.fi TVL stands at $5.85B.
Arthur Hayes, co-founder of BitMEX and chief investment officer at Maelstrom has come under market focus after receiving 132,730 ETHFI, worth around $72,800, just hours before Upbit announced support for the token in its KRW market.
The timing drew attention because exchange listings often push a token’s price higher. As a result, some traders questioned whether Hayes knew about the listing before it was made public.
Upbit Announces KRW Listing for ETHFI
Upbit confirmed that ETHFI trading in the KRW market would begin on March 19 at 12:30, expanding the token’s access to one of the most active retail trading markets.
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