Coin Stories with Natalie Brunell

Arthur Hayes: Where Bitcoin Goes Next

65 snips
Mar 10, 2026
Arthur Hayes, co-founder of BitMEX and CIO at Maelstrom, is a crypto derivatives pioneer. He talks about Bitcoin as a liquidity alarm, how AI-driven job losses could spark a fast financial crisis, why bigger money printing may be coming, and how institutions and market structure reshape crypto. He also covers privacy risks from AI and when he might buy Bitcoin.
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ANECDOTE

From Being Fired To Building BitMEX

  • Arthur Hayes described getting fired from Citi in 2013 and discovering Bitcoin via Zero Hedge, reading the white paper, and trading arbitrage on early exchanges.
  • He co‑founded BitMEX in 2014, launched the first perpetual swap in 2016, and grew the exchange into the top derivatives venue.
INSIGHT

Don't Design Crypto For Institutional Approval

  • Hayes argues crypto shouldn't bend to institutional demands and become just another tradable financial product.
  • He says tailoring the ecosystem for institutions risks losing transformational potential and making crypto indistinguishable from stocks.
ADVICE

Avoid Leveraged Short Term Crypto Trading

  • Avoid leveraged short‑term crypto trading unless you can monitor markets 24/7 and handle derivative flows.
  • If you want simple exposure, buy and hold Bitcoin long term and ignore short‑term derivative noise.
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