Helius CEO Says Stop Following Crypto Influencers After Hayes Dumps HYPE and NEAR

The crypto community was left stunned after Arthur Hayes revealed that he had exited his positions in Hyperliquid (HYPE) and Near Protocol (NEAR), sparking frustration among investors who had followed his bullish calls.

However, Mert Mumtaz Helius, CEO, says the reaction misses a bigger lesson: investors should stop relying on crypto influencers for investment decisions.

“You Shouldn’t Be Shocked”

Responding to the backlash, Mumtaz said Hayes has made similar portfolio moves before, so investors should not be surprised by his latest exits.

He argued that people who buy assets simply because a popular figure promotes them are playing a completely different game.

“The people who are buying things based on what Arthur Hayes tells them to do know the game they’re playing. It’s a PvP game. There’s no real investing going on,” Mumtaz said.

Hayes built his career as a trader, not a long-term investor, Mumtaz added. His strategy revolves around spotting opportunities and moving capital when conditions change. For that reason, investors should not expect him to hold assets indefinitely.

Conviction Matters More Than Copy Trading

Mumtaz drew a clear line between trading and investing. In his view, investors build long-term wealth by identifying undervalued assets, understanding their potential, and holding them through multiple market cycles.

He pointed to Solana at $8, Zcash around $18, and earlier opportunities in NEAR and Hyperliquid before their major rallies.

For investors looking for an edge, Mumtaz said the answer is simple: build your own conviction. Instead of copying influential traders, investors should study fundamentals, challenge assumptions, and form independent views.

He even warned people not to follow his own opinions blindly. Investors should only buy an asset if the underlying thesis genuinely makes sense to them.

Privacy, Solana, and Hyperliquid Remain Key Themes

Despite the recent controversy, Mumtaz remains positive on several sectors he has highlighted over the past year.

He said privacy-focused projects are already benefiting from renewed attention and described privacy as crypto’s “last frontier.” He also highlighted Solana and Hyperliquid, pointing to their growing ecosystems and strong developer activity.

Mumtaz argued that decentralized platforms hold a major advantage because hundreds of entrepreneurs can build products simultaneously. In contrast, centralized exchanges must depend on a single team and slower decision-making processes.

His broader message was straightforward: focus on fundamentals, strong narratives, and long-term conviction rather than reacting to someone else’s trades.

As Mumtaz put it, nobody builds lasting wealth by following another person’s portfolio moves.ds lasting wealth by simply following another person’s portfolio moves.