BitMEX founder Arthur Hayes announced the purchase of 6.16 million SYN tokens for the Synapse project, worth about $2.2 million. The SYN then jumped 40% to $0.55. Hayes explained his decision by saying that the Synapse team had launched a decentralized Hypercall option exchange based on the Hyperliquid ecosystem, which could become a serious competitor to Deribit’s market leader.

According to the entrepreneur, he is still interested in the Hyperliquid ecosystem, but is now looking for opportunities to make an asymmetric profit - high returns with limited risks. Investors note the appeal of SYN token: its fully divested value (FDV) is around $81 million, with 88% of the offer already in free circulation and no venture unlock expected. Add value to token is the buyback mechanism launched by the Hypercall platform.

Hayes’s move comes against the backdrop of his general change in tactics. He recently sold out his positions in Hyperliquid, Worldcoin, Zcash, and NEAR tokens, and posted a loss on Ethereum, citing macroeconomic risks, including rising energy prices and political uncertainty. However, a prominent figure in crypto society ZachXBT had previously accused Hayes of intentionally "stockpiling" assets before selling them, but the businessman himself has rejected these claims, claiming that he is merely sharing his investment decisions.

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