Crypto billionaire Arthur Hayes has abruptly decided to begin selling millions of dollars worth of digital assets, according to on-chain data.

The BitMEX co-founder is “dumping his bags heavily,” according to the blockchain tracker Lookonchain.

The platforms says Hayes just sold:

• 260 Ethereum (ETH) worth about $820,000
• 2.4 million Ethena (ENA) worth about $651,000
• 640,000 Lido (LDO) worth about $480,000
• 1,630 Aave (AAVE) worth about $289,000
• 28,670 Uniswap (UNI) worth about $209,000.

That’s a total of $2.449 million in digital assets sold.

Hayes has not publicly stated what’s motivating his crypto moves.

He recently became a major proponent of the privacy coin Zcash (ZEC), saying he believes the coin could surge to 20% of Bitcoin’s (BTC) market cap.