Arthur Hayes gives his timeline for the next crypto ‘mega upcycle’
Former BitMEX CEO Arthur Hayes predicts a risk-on cryptocurrency bull market between now and 2026.
talk new york magazine (NYM) Hayes spoke about his early career at Deutsche Bank in Hong Kong, founding BitMEX, prosecution by the Department of Justice, and more.
His views on the market and its future development were particularly interesting. The former CEO of BitMEX said, “All central banks will correct the price of government bonds within the next 12-18 months.”
He predicts the event will trigger the “next mega upcycle” in risk-on assets, ending by 2026. At that point, there will be an economic collapse on the scale of the Great Depression of the 1930s.
“And it will lead the next mega-upcycle of all risk assets, causing a generational collapse. And that’s my view.”
Rather than dwell on the dark side of his final statement, Hayes talked about making the most of the coming boom by timing the switchover between different seasons to maximize profits. bottom.
“I will invest in deep tech and crypto that are decentralizing and really fulfilling Satoshi’s white paper vision. And I will invest in full shitcoin. Because I think I can buy it and sell it when the story reaches its climax.”
In May 2022, Hayes pleaded guilty to violating the US Bank Secrecy Act. He paid his $10 million fine and was subject to six months of house arrest from his Miami apartment overlooking Biscayne Bay.
Despite supposedly restricted movement, Hayes revealed that he was able to exercise outdoors, attend a nearby WeWork office, and occasionally go out to dinner.
Citing various industry figures, including Castle Island Ventures co-founder Nic Carter, the NYM said that unlike Sam Bankman-Fried, Hayes was accused of stealing, lying, or running a fraudulent business. I pointed out no.
“He didn’t follow rules that some say he shouldn’t have existed in the first place.”
Hayes and fellow co-founders Samuel Reed and Ben Derro October 2020At the time, BitMEX was one of the top derivatives exchanges by volume, but the event saw it drop significantly.
Today’s 24-hour volume is $373.86 millionThis is a fraction of Binance’s $38.89 billion, and oddly less than FTX’s $587.91 million.
Hayes said he has no plans to return to being CEO of the company, but retains his board position. Behind the scenes, some say he continues to rule.