Arthur Hayes has reportedly purchased 6.16 million SYN tokens (valued at approximately $2.2M), seeking asymmetric upside within the Hyperliquid ecosystem. The investment follows a significant price surge for SYN, with Hayes positioning the SYN-owned Hypercall as a direct competitor to the options exchange Deribit. On-chain data also shows recent large-scale movements of USDC involving Hayes and entities like Galaxy Digital and Flowdesk.