Arthur Hayes takes on a strategic role at Upexi and Solana gains new momentum
- Arthur Hayes joins Upexi's advisory committee
- BitMine Plans to Invest $20 Billion in Ethereum
- Solana and Ethereum attract attention from major investors
BitMEX co-founder and Maelstrom CIO Arthur Hayes has returned to the spotlight after being dubbed the "Tom Lee of Solana" with his appointment to the advisory committee of Upexi, a Solana (SOL)-based treasury firm. The news was reported on X, where Upexi announced that Hayes will be the first member of this committee, just days after adding $7,43 million in altcoins to its portfolio. Solana is currently trading at $198,97, up 13% in the last 24 hours.
According to Upexi itself, the committee's goal is to "add value for shareholders and accelerate the adoption of Solana as a fundamental infrastructure for the decentralized future." Hayes is expected to contribute additional capital to Solana's treasury, strengthen the business strategy, and increase the company's visibility. Comparisons to Tom Lee have emerged due to the impact he has had on the Ethereum ecosystem.
Upexi noted that, as founder of BitMEX, Hayes established himself as one of the "most iconic and respected voices" in the industry, offering expertise in macroeconomic analysis and digital asset strategy. BitMEX remains a global benchmark for futures and perpetual swaps trading.
At the same time, Hayes made a curious proposal at X: he suggested that Tom Lee be appointed head of the Ethereum Foundation, replacing Aya Miyaguchi, the current president since March 2025. Lee, known among institutional investors and the leader of Fundstrat Capital, also chairs BitMine, the third-largest holder of cryptocurrency assets in the world.
BitMine Immersion Technologies recently revealed its holdings of 1.150.263 ETH and announced its intention to acquire an additional $20 billion worth of Ethereum. With ETH currently priced at around $4.300, the purchase could secure the company approximately 5% of the total Ether supply.
The move puts BitMine and Tom Lee on par with MicroStrategy and Michael Saylor in the Bitcoin market. According to analyst Merlijin the Trader, Ethereum is close to breaking through a resistance level of $4.500, which could pave the way for further appreciation, driven by Wall Street, retail, and growing global adoption.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US chip stocks plunge, evaporating over $1 trillion in market value! Inflation exceeds expectations, reigniting rate hike prospects; AI infrastructure financing bottlenecks trigger valuation reassessment
With the September inflation data exceeding expectations and further strengthening the Fed's rate hike outlook—coupled with rare warnings from the CEOs of Broadcom and Intel about financing bottlenecks in AI infrastructure—the global AI-themed trade, centered on semiconductors, experienced a massive sell-off in the past week.
Defying the Market Downturn! Apple Joins the $5 Trillion Club
On Wednesday, the S&P 500 fell more than 1%, but Apple defied the trend, with its market capitalization officially surpassing $5 trillion, becoming the second company worldwide to reach this milestone after Nvidia. This market value breakthrough coincides with Cook stepping down and new CEO Ternus taking over. However, challenges such as Apple's shortcomings in AI and OpenAI's ambitions in hardware are creating undercurrents at the top of this $5 trillion summit.
CoreWeave Dilemma for Nvidia: Forced to Rescue or Stand By?
As both a shareholder of CoreWeave and its sole GPU supplier, Nvidia now faces a dilemma after the sharp decline in CoreWeave's stock price. If it intervenes, each rescue strengthens expectations of a safety net, raises the threshold for future rescues, and risks getting further entangled in this high-leverage game. If it does not intervene, CoreWeave's liquidity crisis will directly cut off demand for GPU purchases, simultaneously devaluing Nvidia's equity investment and severely damaging its market reputation.
US CPI Heats Up Across the Board, Triggering "Inflation Spiral" Alert; October Rate Hike Odds Once Hit 50%. "New Fed News Agency": Watch Waller's Speech This Week
After the CPI was released, the market-implied rate hike probability first rose to 50% before falling back to 40%. Wall Street generally believes that whether action will be taken in October still depends on how the Federal Reserve assesses inflation trends. "The New Fed News Agency" noted that, unlike in August when price increases were concentrated in certain items, the stronger-than-expected performance of September's core CPI was more broad-based, further reinforcing the case for a December rate hike. The speech by Waller on Friday morning Beijing time is his last public statement before the Fed's blackout period ahead of this month's meeting. Economists are warning about an "inflation spiral," with real purchasing power and midterm election pressures interweaving.
Crypto prices
More
