Arthur Hayes Dumps Entire HYPE Position on June 4, Warns of Wall Street Competition in Perpetual Futures

According to Decrypt, on June 4-5, 2026, BitMEX co-founder Arthur Hayes liquidated his entire position in Hyperliquid's native token HYPE and warned that Wall Street competition threatens to erode the protocol's market share. Hayes cited intensifying competition from centralized exchanges like Binance and traditional finance platforms entering the perpetual futures space, noting that Hyperliquid's reliance on trading fees to burn tokens leaves it exposed to sudden market share losses.

HYPE traded around $59 on June 6, down 14% over the prior seven days from a recent all-time high above $75, according to CoinGecko. Hyperliquid's real-world asset derivatives open interest reached $3 billion as of June 3. Hayes' liquidation came less than two months after he predicted HYPE would reach $150 by August 2026.