It seems the exchange owner's cryptocurrency trading skills aren't much different from retail investors. As of February 2026, BitMEX co-founder Arthur Hayes had disclosed cumulative losses exceeding $10.37 million in publicly traded on-chain transactions (excluding undisclosed positions). Details are as follows: February 2026: Liquidated all holdings of four tokens including LDO and ENA, with a total investment of approximately $9.35 million and a loss of approximately $3.48 million. January 2026: Bet on BIO, investing $1.1 million and losing $640,000, a drop of 58%. December 2023: Traded LOOKS, ENS, and FXS, with a cumulative investment exceeding $10.29 million and a loss exceeding $6.25 million, with each individual token experiencing a drawdown of over 50%. Overall, the drawdown of his on-chain investments is quite significant.