Latest news with #BitMEX
Yahoo
20 hours ago
- Business
- Yahoo
Arthur Hayes Says Circle Is Overvalued, Warns Against Stablecoin IPO Mania: 'Trade This S--t Like You Would A Hot Potato'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A stablecoin mania is brewing in public equity markets, according to BitMEX founder and Maelstrom investment chief Arthur Hayes. Hayes on Monday said the public listing of USDC stablecoin issuer Circle (NYSE:CRCL) marked the beginning of this bubble. And that company's stock is already overvalued, he said. In just nine trading days, Circle's stock has surged over 140% from its opening price and over 435% from its listing price, boasting a valuation of $36 billion at last look. The impressive debut comes amid a growing buzz around stablecoins. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . From the prospect of greater legitimization in the U.S. to the U.S. Treasury's projection that stablecoins could grow to a $2 trillion market, investors have several reasons to be optimistic about the sector, which is arguably already the most profitable blockchain business vertical. But Hayes calls for caution as more companies predictably appear on the scene. In Hayes' telling, the stablecoin market is already divvied up. 'There is no real future because the distribution channels for new entrants are closed,' he said. Hayes said stablecoins only succeed if they can affordably reach millions of users. According to him, there are only three channels through which this can happen. These channels are cryptocurrency exchanges, social media giants and legacy banks. Cryptocurrency exchanges already own stablecoins or are partnered with market leaders Tether and Circle, Hayes said. At the same time, he said social media giants and legacy banks showing interest in the space as the regulatory climate improves are unlikely to partner with third parties. Social media giants have the most customers and almost complete information on their behavior and preferences, he said, noting that they are well-positioned to lead the sector. For legacy banks, he said, 'regulators might likely forbid' such third-party partnerships. Trending: New to crypto? on Coinbase. Hayes says that new entrants will crop up despite this lack of distribution, lured by the profit potential of becoming a stablecoin issuer, but warns that they will eventually leave investors holding the bag. Hayes said Circle copycats would emerge with even more insane valuations dangling the promise of traditional finance integrations. These will be followed by issuers that use a risky mix of financial engineering and leverage to offer high yields to depositors, he said. The bubble will pop after one of these issuers collapses, triggering billions of dollars in losses. 'Trade this s–t like you would a hot potato,' he said. While Hayes is skeptical of the stablecoin mania in the long term, he warns that shorting it is a bad idea. 'Do not go short,' he said. 'These new stocks will rip the faces off of shorts. The macro and micro are in sync.' Hayes even hints at making speculative bets through his family office to profit from the current momentum. 'If there is money to be made, we will be making it,' he said. Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock This article Arthur Hayes Says Circle Is Overvalued, Warns Against Stablecoin IPO Mania: 'Trade This S--t Like You Would A Hot Potato' originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
6 days ago
- Business
- Bloomberg
Why Crypto's Top Betting Tool Is Edging Closer to US Debut Under Trump
Trading of cryptocurrencies began in online forums and obscure exchanges, where buying and holding tokens was the norm. But making leveraged bets — a common tool in traditional finance that allows investors to take a large position with a small amount of capital — was nearly impossible. That changed in 2016 when crypto trading platform BitMEX launched perpetual futures: contracts with no expiration that let traders speculate with leverage around the clock. Known as 'perps,' these contracts quickly became the dominant instrument to bet on crypto prices.
Yahoo
11-06-2025
- Business
- Yahoo
Crypto Exchange Bullish to Host $10M Trading Competition
Cryptocurrency exchange Bullish has announced details for a trading competition that will take place in Q3 of this year. The total prize pool for the competition is $14 million, with $10 million going to the winner and the remaining pool being spread across first, second and regional winners. Unlike trading competitions of the past set up by the likes of Bybit and BitMEX, which targeted retail traders, the Bullish competition is aimed at professional traders, and they will be judged on an array of factors, including profit and risk metrics. These factors will be judged by industry veterans from Annamite Capital, Nine Blocks Capital, Nickel Digital and AlgoQuant. The finalists may be asked to present their trading strategies to the judges before the event concludes. The competition comes at a time when the cryptocurrency industry is experiencing its largest wave of institutional adoption to date, which has been reinforced by public companies flocking to add bitcoin BTC to their respective balance sheets. Trading activity has also mirrored this shift, with the CME setting records earlier this year in terms of volume and open interest. A CoinDesk Indices report in April also suggested that institutions were driving bitcoin dominance earlier this in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Crypto Insight
11-06-2025
- Business
- Crypto Insight
Bank of Japan pivot to QE may fuel Bitcoin rally — Arthur Hayes
The Bank of Japan's (BOJ) upcoming monetary policy meeting in June may provide the next significant catalyst for global risk assets like stocks and cryptocurrencies. The BoJ is set to take its next interest rate decision at its upcoming monetary policy meeting on June 16–17. The central bank may provide the next significant catalyst for Bitcoin and other risk assets if it pivots to quantitative easing (QE), according to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom. 'If the BOJ delays QT, and restarts selected QE at its June meeting risk assets are going to fly,' Hayes wrote in a June 10 X post. QE refers to central banks buying bonds and pumping money into the economy to lower interest rates and encourage spending during difficult financial conditions. On July 31, 2024, the Bank of Japan introduced a plan to cut government bond purchases by 400 billion yen per quarter, starting in August 2024. The quantitative tightening plan is set for an interim assessment period at the upcoming meeting on June 16, signaling a potential opportunity to pivot. BoJ officials are reportedly discussing making smaller reductions to the bank's bond buying, from the current 400 billion to 200 billion yen per quarter, starting from April 2027, unnamed sources familiar with the matter told Bloomberg. Japanese bond market crisis was the catalyst for Bitcoin's $112,000 high Bitcoin rose to the $112,000 all-time high on May 22, two days after the 30-year yield on Japanese bonds reached a new all-time high of 3.185% on May 20, 2025. The concerns around Japan's sovereign bond market inspired institutions to reconsider Bitcoin's role as a hedge against sovereign default risks, according to Bitwise's head of European research, André Dragosch. 'Perceived default risk continues rising, yields continue rising? This is a rough benchmark of why Bitcoin could be heading toward $200,000,' Dragosch told Cointelegraph, adding that Bitcoin is 'free from counterparty risk.' Government bonds are typically considered safe-haven assets. But when yields rise sharply, it often signals investor concerns about fiscal sustainability and repayment risk. Source:
Yahoo
04-06-2025
- Business
- Yahoo
Arthur Hayes Says 'Buy Everything Round Dos' As Court Deems Trump Tariffs Illegal
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. BitMEX co-founder and Maelstrom investment chief Arthur Hayes has suggested that a recent court ruling overturning most of Trump's tariffs may present a significant buying opportunity. Hayes was bullish even with Trump's tariffs in place. The analyst has predicted that Bitcoin will soon break the seven-figure price mark. The past few months have been a wild ride for investors in almost every market as President Donald Trump's erratic tariff policies yanked prices in every direction. Amid recent legal developments, however, the sustainability of these tariffs have come under question. And BitMEX co-founder and Maelstrom investment chief Arthur Hayes has suggested that this may offer a significant buying opportunity. 'Buy everything round dos,' Hayes said Thursday on X in response to the U.S. Court of International Trade's ruling labeling Trump's global tariffs as illegal and blocking them throughout the country. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Round one was when the U.S. and China agreed to walk back massive reciprocal tariffs for 90 days on May 12. 'BUY EVERYTHING CHI-MERICA LIVES!!!!' Hayes said on X at the time. Bitcoin has surged nearly 7% since then to clinch new record highs near $112,000. Meanwhile, the Nasdaq and S&P 500 have surged about 6% and 3%, respectively. The market analyst's latest remarks came as a federal trade court's ruling promised to further defuse trade war tensions and improve risk sentiment in the market. Indeed, the markets initially ticked up in response to the decision. Bitcoin climbed about 1% from $107,600 to $109,000. The Nasdaq notched a modest 0.4% gain in after-hours trading. At last look, however, Bitcoin has roundtripped its gains to trade 1% lower on the day, falling to $106,000. The Nasdaq also experienced wild swings but held on to its initial 0.4% gains at market close. The volatility comes as a federal appellate court has stirred uncertainty by temporarily suspending the trade court's ruling while it considers motions from both sides. Trending: New to crypto? on Coinbase. Still, Hayes was bullish even with Trump's tariffs in place. He claimed that the Treasury would quietly step in to manage the fallout from tariffs with bond buybacks. He said these buybacks will inject liquidity into the market and prop up risk assets. For Bitcoin, in particular, Hayes framed current market conditions as a win-win. Beyond the prospect of fresh liquidity, he said that Trump's tariffs would push investors away from U.S. assets toward non-sovereign assets, such as gold and Bitcoin. 'Now that the global community believes Trump is a madman crudely and savagely wielding the tariff weapon, any investor with U.S. stocks and bonds is looking for something whose value is anti-establishment. Physically, that's gold. Digitally, that's Bitcoin,' he wrote at the time. According to Hayes, this will help drive the price of Bitcoin to a staggering $1 million per coin by 2028. This prediction suggests a nearly 10x price potential from current levels. In the short term, he has predicted that the asset will trade between $200,000 and $250,000 by year-end. Read Next: A must-have for all crypto enthusiasts: . Invest Where It Hurts — And Help Millions Heal: Image: Shutterstock This article Arthur Hayes Says 'Buy Everything Round Dos' As Court Deems Trump Tariffs Illegal originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
