Forward Guidance
The System Is Too Levered To Take Real Pain | Arthur Hayes
Apr 23, 2025
Arthur Hayes, co-founder of BitMEX and now chief investment officer at Maelstrom, dives into current economic dynamics. He discusses how Trump's concessions are shifting markets and the US-China trade tensions amidst high tariffs. Hayes highlights the decoupling of Bitcoin from US assets, exploring its role as a global liquidity tool. The conversation also covers monetary policy challenges, the Fed’s stance on quantitative easing, and the implications of the Supplementary Leverage Ratio on banking liquidity and crypto investments.
47:11
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Quick takeaways
- Arthur Hayes highlights that recent U.S. political strategies, particularly Trump's tariff shifts, are fundamentally reshaping market dynamics and reactions.
- The evolving perception of Bitcoin as a global liquidity asset amidst expansive monetary policies emphasizes its potential role in hedging against inflation.
Deep dives
Arthur Hayes and His Role in Crypto
Arthur Hayes is the co-founder and former CEO of BitMEX, where he played a pivotal role in developing the Perpetual Swap trading model. Following his time at BitMEX, he established his own family office, Maelstrom, focusing on early-stage token investments and crypto trading. Hayes emphasizes his passion for macroeconomics and Bitcoin, suggesting that understanding the connections between these elements is crucial for navigating the evolving financial landscape. His insights bring a unique perspective to the broader discussions regarding cryptocurrency and traditional markets.
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