BitMEX co-founder Arthur Hayes has issued a stark warning to traditional finance: adapt to crypto-style perpetual futures or face irrelevance. In his latest analysis, Hayes argues that equity price discovery is rapidly shifting toward 24/7 perpetual markets on crypto platforms, with traditional exchanges like CBOE and SGX scrambling to launch their own perpetual products by 2025’s end. He frames this as an existential moment for TradFi, where legacy systems must evolve or cede ground to more innovative crypto venues.
about Arthur Hayes: Crypto Perps to Kill Traditional Stock Exchanges
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Arthur Hayes
4 posts last week
Arthur Hayes is a former CEO and co-founder of BitMEX, a cryptocurrency derivatives exchange known for its high leverage trading options.
Novogratz: Crypto Crash Wiped Out 30% of Market Makers
The October cryptocurrency crash represented far more than a typical market correction, systematically eliminating approximately 30% of market makers across key platforms and exposing critical vulnerabilities in crypto’s leverage-dependent ecosystem. Galaxy Digital CEO Mike Novogratz revealed in a recent interview that what began as a technical glitch at Binance cascaded into a systemic event that devastated liquidity providers and retail traders alike. Despite recent Federal Reserve-driven rebounds, the damage to market psychology and structure suggests a painful recovery lies ahead as the industry transitions from speculative narrative to fundamental business reality.
about Novogratz: Crypto Crash Wiped Out 30% of Market MakersMonad Token Surges 68% Despite Initial Airdrop Disappointment
Monad’s native cryptocurrency MON has defied initial market skepticism with a dramatic 68% price surge following its recent airdrop, climbing as high as $0.045 on Tuesday despite broader cryptocurrency market declines. The token significantly outperformed its $0.025 public sale price while generating explosive trading volume of $400 million on South Korea’s Upbit exchange alone, signaling strong investor interest in the new layer-1 blockchain project.
about Monad Token Surges 68% Despite Initial Airdrop DisappointmentHyperliquid’s $314M Token Unlock Sparks Sell Pressure Fears
BitMEX co-founder Arthur Hayes warns that Hyperliquid’s $314 million token unlock this weekend creates unavoidable sell pressure despite insider assurances. The perpetuals DEX faces its most significant tokenomics test as community members demand clearer communication about how the massive unlock will be managed. With HYPE tokens already down 23% over the past month, the cliff unlock of 9.92 million tokens represents 2.66% of total supply, putting the project under intense market scrutiny.
about Hyperliquid's $314M Token Unlock Sparks Sell Pressure FearsBitcoin $200K Forecast: 2029 Target, Not 2024
Veteran trader Peter Brandt has delivered a sobering forecast for Bitcoin enthusiasts, predicting the cryptocurrency won’t reach the coveted $200,000 milestone until Q3 2029, nearly four years later than optimistic projections from other crypto executives. While maintaining his long-term bullish stance, Brandt’s timeline challenges the immediate price targets set by prominent industry figures, suggesting the current market volatility represents healthy consolidation rather than fundamental weakness.
about Bitcoin $200K Forecast: 2029 Target, Not 2024Zcash Soars 12% as Institutions Accumulate $150M in ZEC
Zcash has staged a dramatic recovery, surging 12% to reclaim the $670 level after Monday’s sharp decline to $548. The privacy-focused cryptocurrency’s remarkable 1,500% year-to-date rally is being fueled by aggressive institutional accumulation and technical breakout patterns, leaving traders watching whether ZEC can sustain its momentum toward potential new highs.
about Zcash Soars 12% as Institutions Accumulate $150M in ZECHayes: Bitcoin Drop Tied to Dollar Liquidity, Basis Trades
Former BitMEX CEO Arthur Hayes attributes Bitcoin’s recent plunge below $90,000 to shrinking U.S. dollar liquidity rather than fading institutional interest. He reveals that hedge funds using Bitcoin ETFs like BlackRock’s IBIT for sophisticated basis trades have artificially supported prices, creating a fragile market structure. Hayes predicts further declines before a potential surge to $200,000-$250,000 if stock market corrections force accelerated government money printing.
about Hayes: Bitcoin Drop Tied to Dollar Liquidity, Basis TradesZcash Soars 740% Amid Privacy Debate & Tech Upgrades
Zcash has staged a remarkable 740% price surge this year, igniting intense debate about whether the rally stems from coordinated promotion or genuine technological progress. The privacy-focused cryptocurrency’s resurgence comes amid growing demand for on-chain privacy solutions and high-profile endorsements from prominent crypto figures. Analysts point to both fundamental improvements and market psychology as driving forces behind the dramatic price movement.
about Zcash Soars 740% Amid Privacy Debate & Tech UpgradesEthereum at $3,200: Key $2,875 Level Decides Next Move
Ethereum is trading at $3,200 with market attention focused on a critical $2,875 support level. Analysts warn this technical zone could determine whether ETH rallies toward $5,000 or drops to accumulation zones near $2,250. The cryptocurrency’s short-term direction hangs in the balance as traders watch key Fibonacci levels and market structure.
about Ethereum at $3,200: Key $2,875 Level Decides Next MoveArthur Hayes Sells $4M in Altcoins Amid Market Crash
Former BitMEX CEO Arthur Hayes has executed significant altcoin sales totaling approximately $4 million during the recent crypto market downturn, marking his second major divestment this year. The selling spree, tracked by blockchain analytics firm Lookonchain, included major positions in ETH, ENA, and several other prominent altcoins as Bitcoin plunged to $94,000 and Ethereum dipped to $3,100, though Hayes maintained strong support for privacy coin ZEC which bucked the market trend with substantial gains.
about Arthur Hayes Sells $4M in Altcoins Amid Market Crash