Arthur Hayes says the speed at which projects like Terra grow and then implode is a feature of the crypto industry, not a bug. He founded crypto exchange Bitmex in 2014 and then became the original crypto bad boy. In 2021 the DOJ charged him in with violating the U.S. Bank Secrecy Act for not implementing an anti-money laundering program at Bitmex. He plead guilty and was sentenced to two years probation and six months of home detention. In fact, he was still sporting an ankle bracelet on a recent cover of New York Magazine. Now he's living in Singapore, offering up his views on the crypto industry with long form, meme-filled essays, and still thinks the crypto industry will save investors from what he calls a broken banking system. "I don't care if you're capitalist or you're a communist. Everybody put on a lot of debt. We've passed the point where that debt is becoming useful," he said. "And therefore everyone is going to take an L unless they get some crypto or some gold—some hard asset that's outside of the traditional banking system."
For more from Decrypt, visit decrypt.co and follow @gmdecrypt on Twitter.
Be sure to join the gm Telegram room for direct access to our hosts and guests.
Hosts and guests:
Dan Roberts
Twitter: @readDanwrite
Stacy Elliott
Twitter: @stacyannj
Arthur Hayes
Twitter: @CryptoHayes
Podcast thumbnail art by Grant Kempster
Hosted on Acast. See acast.com/privacy for more information.
June 29: SBF in the HOOD? Is NEXO Different? Liquidation for 3AC!
July 1: Bitcoin’s 2nd Biggest Quarterly Loss EVER!
June 30: Is ETH Dropping Below $1000?
June 28: Am I Irked? For Kamaui
June 27: BitPanda Layoffs, Sol Phone, Snoop & Eminem
June 24: Week in Review
June 23: Voyager Hit, NPR Criticism, Crypto Hotline Bling
June 22: BlockFi’s Credit, Elon & Twitter, Listener Questions
June 21: The Harpooned SOL Whale, GPUs Price Drop, CEL Squeeze
gm: Running with Stepn and Shiti Manghani
June 20: Celsius, 3AC, Babel: DeFi Looking More Like Bad TradFi
June 17: Week in Review
June 16: Tether FUD, FED Raises Rates, 3AC in Trouble?
June 14: Celsius Saga Continues: A Twitter Thread Tells All
June 13: Celsius Stops Withdrawals, Coinbase CEO Snaps Back, Spencer Dinwiddie Interview
June 10: Week in Review
gm: Christine Brown Left Robinhood to Go Full NFT
June 9: Stablecoin Guidance, APE DAO, LTC & Privacy
June 8: $5M DeFi Hack, Coinbase’s List, Pay Pal Allows Transfers to Wallets
June 7: Bipartisan Crypto Bill, SEC & BNB, Epic Games Epically Unhappy
Create your
podcast in
minutes
It is Free
Pharmacy Podcast Network
Aktörspodden
The Power of Storytelling
The Ramsey Show
Planet Money