Decentralizing Finance: The Crypto Revolution

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As 2023 nears its end, the crypto community is abuzz with speculation: will the relentless crypto winter give way in 2024? Crypto OG Arthur Hayes is confident that crypto is on an upswing. According to Hayes, these market cycles are historically recurrent, indicating a potential bull run in the near future. 

In this episode, Hayes offers his insights on a range of compelling topics, from what he believes will be a resurgence of central bank money printing between 2024 and 2027 to the effect spot Bitcoin ETFs will have on crypto markets. 

He also shares his views on the post-FTX blockchain landscape, the dynamics of Ethereum and memecoins, and why he thinks Tether won’t last. 

Show highlights:

• Why Arthur believes that central banks across the globe might resort to printing money again between 2024 and 2027
• Why he's anticipating a bull run in the crypto market within the next year
• Whether the financial system established post-World War II is on the verge of a breakdown
• What Arthur recommends investors should do in the event of a spot Bitcoin ETF launch
• Why he is confident that the launch of a Bitcoin ETF won't immediately lead to a massive surge in prices
• How, according to Arthur, the collapse of FTX actually validated the resilience of the blockchain ecosystem
• Whether the DCG crisis is likely to have a far-reaching impact on the crypto industry
• Why Arthur maintains a bullish stance on ETH and the Ethereum ecosystem, despite labeling it a “shitcoin”
• Whether he sees the use of the Bitcoin blockchain for trading memecoins (BRC-20s) as problematic
• Why Arthur thinks Tether's dominance will be challenged with the entry of major U.S. banks into the stablecoin market
• Why he firmly believes that AI systems will favor Bitcoin over traditional forms of money
• Why, in Arthur's view, China may not aim to become the issuer of the global reserve currency
• The investment strategy of Arthur’s family office, Maelstrom

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Guest

• Arthur Hayes, CIO of Maelstrom.
• Previous appearances on Unchained:
• Arthur Hayes, Former Ethereum Skeptic, on Why the Merge Makes Him Bullish on ETH 
• Arthur Hayes of Bitmex on Why Countries Will Turn to Digital
• The Chopping Block: Arthur Hayes on Why Crypto Needs to Ditch the Banks
• How Crypto and Blockchain Technology Could Change Financial Services

Links

Macroeconomics

• CoinDesk: The Relationship Between Bitcoin and Interest Rates Is Breaking Down: Arthur Hayes
• Bad Gurl by Arthur Hayes
• The Periphery by Arthur Hayes
• Arthur Hayes’ tweet: “the U.S. banking crisis is back”

Bitcoin ETFs and markets

• Forbes’ Billy Bambrough on Arthur Hayes’ hot ETF take - “If ETFs managed by TradFi asset managers are too successful, they will completely destroy Bitcoin.”
• Blockworks: Institutional custody of bitcoin could kill it, cautions Hayes
• Arthur’s tweet on cash or in-kind Bitcoin ETFs
• Unchained: Why the SEC May Want Cash Creation of Spot Bitcoin ETFs
• Arthur’s meme on BlackRock 

SBF and FTX

• White Boy by Arthur Hayes
• White Man by Arthur Hayes
• New York Magazine: The Original King of Crypto Is Back Arthur Hayes rubbed success in the Feds’ face and got busted. Now he’s returning to a shell-shocked industry.

CZ and Binance

• Panda Power by Arthur Hayes
• Unchained: 
• How Binance Will Open All Its Activity to the U.S. Government
• Binance to Pay $4.3B Penalty to Resolve U.S. DOJ Criminal Investigation; Changpeng Zhao Resigns, Pleads Guilty to Money Laundering Charges

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