TLDR
- Analysts reported $3 million USDC leaving a wallet associated with Arthur Hayes on November 12.
- Onchain Lens identified $2 million sent to Galaxy Digital and $1 million to Flowdesk.
- Arkham identifies a Hayes-linked wallet as the sending address’s first funder.
- Hayes confirmed exiting Maelstrom’s directional trading book on October 24.
- EmberCN estimated October sales generated at least $49.25 million in USDC.
An Ethereum wallet linked to Arthur Hayes sent $3 million USDC to two trading firms Thursday. Analysts identified the recipients as Galaxy Digital and Flowdesk. The movement follows Hayes’ October liquidation of several crypto holdings, but no new purchase is confirmed.
USDC Transfers Put Trading Desks Back in Focus
According to blockchain analyst EmberCN, the transfers occurred on November 12. Onchain Lens separately reported that Galaxy Digital received 2 million USDC. Flowdesk received another 1 million USDC, according to the tracker.
Arthur Hayes (@CryptoHayes) 这是准备要开始抄底买入了吗？：他在 10 分钟前把 300 万 USDC 转到了 OTC 交易平台 Flowdesk 跟 Galaxy Digital。
他半个月前清仓了至少价值 $4925 万的多种山寨，说是等后面跌到位了再抄底买入。
如今半个月过去了，相较他卖出的价格，这些代币普遍又下跌了 15%-30%。… https://t.co/wwh56WM8vA pic.twitter.com/44Q5itf8P9— 余烬 (@EmberCN) November 12, 2026
Both analysts linked the activity to wallet 0xaE0316843710672EBC7452635010f96C8D08214D. Arkham identifies another Hayes-linked wallet as its first funder. However, Arkham does not independently attribute that wallet to Hayes.
The distinction matters because blockchain records establish token movements, not the intentions behind them. Neither transfer alone identifies an altcoin purchase or confirms that a trading order was executed.
Hayes’ Earlier Exit Generated Millions in USDC
On October 24, Hayes said he had exited Maelstrom’s directional trading book. He cited uncertainty surrounding macroeconomic conditions and geopolitical developments. He wrote that he would remain on the sidelines until conditions improved.
I dumped it all. The Maelstrom directional book, took profits on $ETH, $ENA, $UNI and other shitcoins. I think we gotta go down to go up. It looks a bit dicey out there in macro and geopolitical land. Going to sit on the sidelines and wait for the all clear signal … Brrrrr
— Arthur Hayes (@CryptoHayes) October 24, 2026
EmberCN subsequently estimated that token disposals had generated at least $49.25 million in USDC. A separate Onchain Lens tally placed receipts near $49.24 million. The small difference reflects the trackers’ reported totals, rather than an independently reconciled accounting.
EmberCN identified disposals of 8,000 ETH worth $19 million. It also counted 14 million ENA worth $2.76 million. Additional sales involved UNI, ETHFI, AERO, PENDLE and ZAMA.
Earlier reporting on the October sales documented transfers to multiple trading venues. Those transactions generated stablecoin inflows. Thursday’s movement instead sends USDC toward trading counterparties.
EmberCN now estimates those tokens have declined between 15% and 30% since Hayes’ sales. That comparison depends on individual sale prices and subsequent market quotations. The complete token-by-token calculations were not available for independent verification.
Does the Latest Transfer Signal Renewed Buying?
Galaxy Digital and Flowdesk also featured in his earlier transactions, making the destinations relevant. In October, on-chain trackers identified USDC arriving from those firms as Hayes reduced exposure.
In September, Flowdesk supplied a Hayes-linked wallet with 244,406 UNI worth approximately $1.73 million. That activity illustrates a possible trading-desk use, not the purpose of Thursday’s deposits.
