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Pump or Dump Incoming? Arthur Hayes Buys $1M in BIO Tokens

Bio Protocol’s native token, BIO, soared by over 20% following Arthur Hayes’ big buy.

Avatar image of Mishael Nwani Mishael Nwani•August 20, 2025
Arthur Hayes

On-chain data shows that the BitMEX co-founder, Arthur Hayes, has invested 1 million USDC into a cryptocurrency called BIO. He acquired as many as 7.66 million units of the BIO token.

Following the big buy, BIO saw a rapid price pump by over 20%. Still, many onlookers are wary that this could be another scenario of a pump-and-dump scheme.

What is Bio Protocol?

The Bio Protocol is a decentralized science (DeSci) project that blurs the boundary between scientific research and blockchain technology. The protocol describes itself as a financial layer to fund biotechnological innovations and speed up the development of drugs that can potentially save more lives.

Bio serves as a DeSci marketplace where community members can join a crowdfunding effort to raise sufficient cash for their desired biotech project. These community members include patients, scientific researchers, and crypto users. Various sections within the DeSci project’s ecosystem include the BioDAOs, BioAgents, and IP-Tokens.

At the helm of its operations is its native token, BIO. It serves as a utility and governance token for holders. BIO holders can stake their holdings for additional incentives.

A Possible Pump and Dump?

Following news about Hayes’ BIO acquisition, the token pumped by over 20% to a trading price of $0.164. However, the asset has rebalanced at $0.1604 at press time.

Crypto acquisition of such a large amount from an individual investor is often tagged as a possible endorsement. This was the case with the tech billionaire Elon Musk and the Dogecoin memecoin. The meme token saw a massive pump to higher levels after Musk declared it as his favorite crypto.

On the other hand, a big buy from a single investor can raise eyebrows about a possible pump-and-dump scheme. Members of the crypto community claim that Hayes bought the token for a profit and will subsequently dump it on the market. Some users even urge others not to buy the BIO token as a price dip is incoming. Echoing this point, others tag his BIO acquisition as an “exit liquidity” move.

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Mishael Nwani

Mishael Nwani is an avid crypto enthusiast with over four years of experience in the industry. Since 2022, he has covered topics across cryptocurrencies, NFTs, artificial intelligence, cybersecurity, and financial markets.