According to Foresight News, Arthur Hayes has been depositing Ethereum (ETH) into Lido and using stETH to mint USDe in the decentralized stablecoin project Ethena Labs. So far, he has deposited 440 ETH, worth $1.01 million, and received 1.01 million USDE. Hayes currently still holds 5,451 ETH, valued at $12.5 million.