‘It sucked’ — Arthur Hayes on BitMEX saga, Fed cuts, Bitcoin ETFs, yen carry-trades

Decentralize with Cointelegraph

In this episode of Decentralize with Cointelegraph, join host Gareth Jenkinson in an in-depth discussion with Arthur Hayes, co-founder of BitMEX and CEO of Maelstrom. They explore the implications of the recent US Federal Reserve interest rates cut on traditional finance and crypto markets, dive into the intricacies of Japanese yen carry trades, and discuss Bitcoin market dynamics. Hayes also shares his thoughts on the impact of Bitcoin ETFs and the evolving crypto regulatory landscape, with insights from his extensive experience in the industry.
Follow Cointelegraph on X @Cointelegraph.
Follow this episode’s host, Gareth Jenkinson on X at @gazza_jenks.
Timestamps:
(00:00) - Introduction to the episode.
(00:39) - Fed rate cut, its impact on traditional markets, reactions and predictions.
(03:11) - Yen carry trades and the impact on crypto.
(04:11) - Athena protocol and Hayes’ perspective on market resilience.
(05:28) - Bitcoin ETFs, institutional involvement, and the impact on the crypto market.
(06:58) - Opportunities in derivatives trading.
(07:57) - Hayes’ support for Bitcoin development.
(08:44) - Impact of the Bitcoin halving and AI competition on Bitcoin mining.
(10:24) - Reflection on legal challenges in 2022, and the implications of running a centralized crypto company.
(11:47) - Potential impact of US politics on crypto regulation.
(13:16) - Transition to Maelstrom and the differences from running BitMEX.
The views, thoughts and opinions expressed in this podcast are its participants’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. This podcast (and any related content) is for entertainment purposes only and does not constitute financial advice, nor should it be taken as such. Everyone must do their own research and make their own decisions. The podcast’s participants may or may not own any of the assets mentioned.

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1. Introduction to the episode (00:00:00)

2. Fed rate cut, its impact on traditional markets, reactions and predictions (00:00:39)

3. Yen carry trades and the impact on crypto (00:03:11)

4. Athena protocol and Hayes’ perspective on market resilience (00:04:11)

5. Bitcoin ETFs, institutional involvement, and the impact on the crypto market (00:05:28)

6. Opportunities in derivatives trading (00:06:58)

7. Hayes’ support for Bitcoin development (00:07:57)

8. Impact of the Bitcoin halving and AI competition on Bitcoin mining (00:08:44)

9. Reflection on legal challenges in 2022, and the implications of running a centralized crypto company (00:10:24)

10. Potential impact of US politics on crypto regulation (00:11:27)

11. Transition to Maelstrom and the differences from running BitMEX (00:13:16)