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Project Overview
BitMEX is one of the world's largest cryptocurrency derivatives exchanges, renowned for its deep liquidity and professional trading dashboard. In 2016, BitMEX created and launched perpetual leveraged swap contracts on Bitcoin, allowing traders to trade Bitcoin futures with up to 100x leverage and no expiry date. This innovative new crypto derivative helped BitMEX become one of the highest-volume Bitcoin exchanges in the world.
Arthur Hayes：美财政部若加码流动性投放，或推动比特币开启新一轮上涨
BitMEX 联合创始人、Maelstrom CIO Arthur Hayes 发文称，美国财政部长 Scott Bessent 为压低长期美债收益率，可能扩大国债回购、增加短期国库券发行，并动用财政部一般账户（TGA）资金释放流动性。Hayes 认为，此类“主动财政发行”操作与耶伦在 2023 年通过短债发行引导货币市场基金资金离开美联储逆回购工具的做法类似，曾带动风险资产及比特币上涨。 Hayes 指出，美国 10 年期国债收益率接近或高于 5% 将显著抬升居民按揭、企业融资等成本，或促使财政部进一步干预债市。他预计，若美元流动性持续扩张，比特币及加密市场有望受益，但期间仍可能出现剧烈回调。
BitMEX failed to complete a sale due to founder control and business decline, and has decided to cease operations
Odaily News: Cryptocurrency exchange BitMEX failed to find a buyer before deciding to gradually wind down operations in June. A source familiar with the matter stated that reputational burdens, slowing growth, and founder control were factors that led potential acquirers to walk away from negotiations. The source noted that BitMEX's business has been in continuous decline, making it difficult for the exchange to command a valuation based on growth expectations.
Arkham: Arthur Hayes' Net Worth Estimated Between $200 Million and $350 Million
Arkham has disclosed that BitMEX co-founder Arthur Hayes' estimated net worth in 2026 could range between $200 million and $350 million, with verifiable on-chain assets totaling approximately $42 million. His wealth primarily stems from his BitMEX equity, his family office Maelstrom fund, and potential undisclosed token investments. Although BitMEX has significantly declined from its 2019 peak (with an annual trading volume exceeding $1 trillion and a valuation of around $3.6 billion), its current valuation stands at approximately $500 million, yet it still constitutes a core component of his asset base.Arthur Hayes was previously sentenced in 2022 for violating the Bank Secrecy Act and was later pardoned by Donald Trump in 2025. Despite navigating regulatory controversies, he remains influential in the crypto industry, particularly active in innovating perpetual swaps and sharing market perspectives.Overall, Arthur Hayes is still regarded as a key opinion leader in the crypto market, with his asset structure closely correlated to market cycles.
Fu Peng: BTC perpetual contracts usher in the “rental asset” era; the commodity ETF logic applies equally to Bitcoin.
Fu Peng, Chief Economist of Xinhuo Group, posted on X stating that commodity ETFs are essentially regulatory-compliant products packaging the business model of “holding commodities long-term and generating rental income continuously.” Fund companies focus not on the commodity market’s outlook but rather on the asset’s ability to generate “rent” consistently. Since BitMEX launched the world’s first BTC perpetual contract and introduced the funding rate mechanism on May 13, 2016, long-term BTC holders have been able to earn rental income through hedging operations—transforming BTC from a pure faith-based speculative asset into a “rental asset” with stable positive cash flow logic. The costs paid by retail participants when trading derivatives constitute the foundation for large-position holders’ risk-free hedging rental income. This income is then packaged into ETF-like products sold to liquidity providers (LPs), whose raised capital is subsequently used to purchase Bitcoin—creating a virtuous cycle that reduces volatility and reinforces BTC’s income-generating attributes.
BitMEX Co-Founder Ben Delo Makes Major Donation to Reform UK to Support Political Reform
BitMEX co-founder Ben Delo donated millions in funding to the UK's Reform UK (Reform Party) to support the party leader's political agenda and policy reforms.
BitMEX Faces Class Action Lawsuit, Users Claim 622.66 BTC in Damages
Odaily Odaily News Crypto derivatives platform BitMEX is facing a proposed class action lawsuit, with BKX Services Inc. and David Namdar filing a complaint in the U.S. District Court for the Southern District of New York. The plaintiffs allege they incurred combined losses of 622.66 BTC from forced liquidations on BitMEX, with BKX claiming losses of at least 305.81 BTC and Namdar claiming losses exceeding 316.85 BTC. The complaint alleges that BitMEX's internal trading desk had access to customers' private information and could continue trading during periods when the server was frozen and regular users were unable to access or close positions. The plaintiffs further claim that BitMEX allowed customers to use leverage of up to 100x and would automatically liquidate positions when the collateral value was still twice the loss amount, with the remaining BTC entering the platform's insurance fund. The plaintiffs are seeking the return of the allegedly withheld Bitcoin, as well as compensatory and punitive damages. They intend to represent U.S. customers who purchased BTC swap products since July 23, 2018. On the same day the lawsuit was filed, BitMEX announced that following a strategic review by its owner, HDR Global Trading, it will cease providing services on September 23, has already stopped accepting new registrations, and plans to prohibit users from opening new positions starting August 26.
BitMEX to Shut Down on September 23; Was an Early Crypto Derivatives Exchange
: Crypto derivatives exchange BitMEX has announced it will shut down, with trading scheduled to conclude on September 23. Founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, BitMEX made the decision after a strategic review by its parent company, HDR Global Trading. BitMEX played a pioneering role in making perpetual contracts a key product in digital asset derivatives trading. Data from CryptoQuant shows that its Bitcoin futures daily trading volume began to decline around May 2021 and has failed to recover to its peak daily range of $1 billion to $5 billion seen in 2020. Restructuring advisor Roshan Dharia stated that mid-tier centralized exchanges face structural pressures, with liquidity increasingly concentrating on larger platforms and compliance costs rising. He noted that the top five platforms are currently estimated to control 80% of global spot trading volume, while mid-tier and regional exchanges are seeing narrowing profit margins and lack clear paths to scale. According to CoinGecko data, BitMEX ranked ninth among derivatives exchanges in August 2023, holding a 0.9% market share. By 2025, it was no longer among the top ten perpetual contract exchanges. Over the same period, these platforms saw their annual perpetual contract trading volume grow by 47.4%, reaching $86.2 trillion.
CZ: Regrets BitMEX Didn't Survive the "War on Crypto"
CZ expressed regret over BitMEX's closure announcement, recalling that BitMEX pioneered the 100x leveraged perpetual contract in the crypto market in 2014, driving industry development.CZ noted that BitMEX only supported BTC deposits and single-chain operations at the time, and adopted a once-daily, multi-signature wallet batch withdrawal process. These seemingly inconvenient designs, he said, actually helped the platform avoid hacker attacks over the long term.He also mentioned that BitMEX's four co-founders admitted to violating the Bank Secrecy Act (BSA) one month before their trial, each being fined $10 million and sentenced to home detention, with no prison time. However, CZ believes that BitMEX's business ultimately couldn't withstand the "War on Crypto" during the Biden administration.In conclusion, CZ stated that BitMEX is currently winding down in an orderly fashion, users can still withdraw assets, and he paid tribute to co-founder Arthur Hayes.
Stopping new user registrations, BitMEX will officially close on September 23, 2026
According to an official announcement, crypto exchange BitMEX will officially close at 12:00 (Beijing time) on September 23, 2026, and will stop new user registrations immediately. BitMEX stated that the board of directors of its parent company, HDR Global Trading Limited, decided to close the exchange after a strategic review.
Arthur Hayes: Rising Oil Prices, AI-Related IPOs, and Trump's Anti-AI Rhetoric Could Pop the AI Bubble and Drag Down the Crypto Market
Odaily News, June 9th — BitMEX co-founder Arthur Hayes stated in his latest article "Reality Test" that if oil prices continue to rise due to the US-Iran conflict, it could trigger a collapse of the AI stock bubble and drag the entire crypto market down.Hayes said that if traffic restrictions in the Strait of Hormuz persist deep into the second quarter, spot prices for hydrocarbons and other key commodities could rise in the third quarter. If oil prices continue to climb and inflationary pressures impact the US midterm elections, Trump might pivot to a tough stance targeting data center construction, AI regulation, and taxation. Hayes believes the market could anticipate Trump limiting AI capital expenditure and taxing AI companies, thereby triggering the burst of the AI stock bubble.Hayes also noted that since November 2022, the scale of AI-related debt issuance has been approximately $1.5 trillion, and US M2 has increased by roughly the same amount during the same period. He believes the three factors that could pop the AI bubble include rising energy costs, the market's inability to absorb three major AI-related IPOs — namely SpaceX, Anthropic, and OpenAI — and Trump's shift to opposing AI. In terms of portfolio, Hayes stated that Maelstrom's stock portfolio holds significant positions in US-listed energy producers; he has sold AI-related stocks and offloaded non-core crypto assets, having dumped HYPE, NEAR, and WLD last week, as well as selling ZEC due to the Orchard Pool vulnerability. He still holds Bitcoin and ETH and will execute tactical short trades via derivatives.
Arthur Hayes: ETH/BTC Ratio Hits Bottom and Rebounds, Ethereum May See Capital Inflow
According to Cointelegraph, BitMEX founder Arthur Hayes (@CryptoHayes) recently expressed a bullish view on Ethereum, noting that ETH had previously suffered massive market sell-offs and was almost "forgotten," but its ratio against Bitcoin has recently rebounded significantly, which he sees as a signal of the market waking up again.
Arthur Hayes: US and Japan Will Jointly Print Money to Depress USD/JPY, Bitcoin Will Enjoy Liquidity Dividend
据 BitMEX 联合创始人、Maelstrom 首席投资官 Arthur Hayes 在其 Substack 专栏发文，美国财政部长贝森特（Bessent）已公开呼吁扩大美联储 FIMA（外国及国际货币当局）回购便利机制，允许日本财务省（MOF）将其持有的美国国债作为抵押，从美联储借入美元，再将美元兑换为日元，从而在不抛售美债的前提下实现日元升值。 Hayes 认为，这一机制本质上是美联储直接印钞，其规模上限取决于日本政府及 GPIF（日本政府养老金投资基金）合计约 1.37 万亿美元的美债持仓。一旦美联储外汇货币小组委员会（Foreign Currency Subcommittee）召开会议并修改 FIMA 规则，这一"印钞开关"即可启动，且无需国会批准或公开听证。 Hayes 指出，日元廉价时代已近尾声，新一轮美元流动性扩张将推动比特币、黄金及黄金矿企股价上涨。他特别点名以太坊（ETH）为"大市值沉睡标的"，并看好 Ethena（ENA）在比特币价格回升后有望实现 5 倍涨幅。目前 Maelstrom 已重仓比特币，并等待 FIMA 规则修改落地后进一步加仓。
Value $23.92 million, BitMEX transfers 367.65 BTC from cold wallet to hot wallet
Odaily News: According to Onchain Lens monitoring, BitMEX, owned by Arthur Hayes, transferred 367.65 BTC (approximately $23.92 million) from a cold wallet to a hot wallet 4 hours ago. Over the past week, the exchange has continued to make similar transfers, possibly to process retail withdrawals, following BitMEX's announcement of closure last month. The BitMEX cold wallet address is bc1q...srq64.
BitMEX Sees First Withdrawal Exceeding $10 Million Since Closure Announcement; Newly Created Wallet Withdraws 468.3 BTC
Odaily News: According to Onchain Lens monitoring, a newly created wallet has withdrawn 468.3 BTC from BitMEX, valued at approximately $29.88 million. This marks the first single withdrawal exceeding $10 million since BitMEX announced its closure.
ARK Invest Analyst: Crypto Industry Enters Largest Consolidation Phase in History
According to Cointelegraph, ARK Invest researcher Lorenzo Valente noted in a post on July 30 that the cryptocurrency industry is entering the largest consolidation phase in history. As investors become increasingly strict in screening projects, revenue is accelerating towards concentration among a few top protocols—Hyperliquid and Pump.fun collectively account for approximately 67% of the industry's application revenue, and with Ethena included, the combined share of the top three approaches 80%. Valente expects this trend to accelerate in the coming months, triggering more M&A, bankruptcies, and project closures. Meanwhile, BitMEX and BitMart recently announced the shutdown of trading services in succession, further confirming the consolidation trend. Valente believes that this round of consolidation is "extremely beneficial" for the long-term development of the crypto industry.
5 million USDC transferred to BitMEX founder Arthur Hayes’ address from Galaxy Digital OTC Desk
according to Onchain Lens monitoring, BitMEX founder Arthur Hayes (0x6cd...7e21) has received 5 million USDC from Galaxy Digital OTC Desk.
BitMEX will close its platform on September 23, 2026; the exchange invented crypto perpetual swaps
Odaily News: Cryptocurrency exchange BitMEX has announced that it will fully shut down its platform at 4:00 (UTC) on September 23, 2026. BitMEX CEO Peter Wilkinson stated that the exchange has been operating for over 11 years and has never lost customer funds due to hacker attacks during that period. Peter Wilkinson noted that BitMEX failed to keep pace with its competitors, having long focused on derivatives business while failing to offer spot trading, yield products, custody, and stablecoin trading services in a timely manner. The exchange also entered the USDT market relatively late, in 2021. He stated that BitMEX once supported its founding team in pioneering perpetual swaps, a product that has since become one of the highest-trading-volume financial instruments in the crypto industry and is now widely used for leveraged cryptocurrency trading. (Bitcoin.com News)
BitMart to End 9 Years of Exchange Operations, BMX Plunges 81% in a Week
crypto exchange BitMart announced it will gradually wind down its trading platform business after nine years of operation. The platform halted new user registrations, deposits, and order placements at 01:30 UTC on July 26. All spot and derivatives trading will cease on August 26, and the platform is scheduled to officially shut down on January 31, 2027. BitMart stated that withdrawals will remain open, but checks related to identity, devices, sanctions, and funding sources may slow processing speeds. The company attributed the closure to its operational status, market conditions, and future strategic direction. Its native token, BMX, has fallen 81% over the past week to $0.057, bringing its market cap down to $19.6 million. BitMart previously suffered a loss of $196 million in December 2021 due to a hot wallet vulnerability, and covered the customer losses. Perpetual contract platform BitMEX also recently announced it will shut down after 11 years of operation, making BitMart the second major crypto exchange to announce a closure within a week.
CZ: Regrets BitMEX Didn't Survive the "War on Crypto"
CZ expressed regret over BitMEX's closure announcement, recalling that BitMEX pioneered the 100x leveraged perpetual contract in the crypto market in 2014, driving industry development.CZ noted that BitMEX only supported BTC deposits and single-chain operations at the time, and adopted a once-daily, multi-signature wallet batch withdrawal process. These seemingly inconvenient designs, he said, actually helped the platform avoid hacker attacks over the long term.He also mentioned that BitMEX's four co-founders admitted to violating the Bank Secrecy Act (BSA) one month before their trial, each being fined $10 million and sentenced to home detention, with no prison time. However, CZ believes that BitMEX's business ultimately couldn't withstand the "War on Crypto" during the Biden administration.In conclusion, CZ stated that BitMEX is currently winding down in an orderly fashion, users can still withdraw assets, and he paid tribute to co-founder Arthur Hayes.
Arthur Hayes: Rising Oil Prices, AI-Related IPOs, and Trump's Anti-AI Rhetoric Could Pop the AI Bubble and Drag Down the Crypto Market
Odaily News, June 9th — BitMEX co-founder Arthur Hayes stated in his latest article "Reality Test" that if oil prices continue to rise due to the US-Iran conflict, it could trigger a collapse of the AI stock bubble and drag the entire crypto market down.Hayes said that if traffic restrictions in the Strait of Hormuz persist deep into the second quarter, spot prices for hydrocarbons and other key commodities could rise in the third quarter. If oil prices continue to climb and inflationary pressures impact the US midterm elections, Trump might pivot to a tough stance targeting data center construction, AI regulation, and taxation. Hayes believes the market could anticipate Trump limiting AI capital expenditure and taxing AI companies, thereby triggering the burst of the AI stock bubble.Hayes also noted that since November 2022, the scale of AI-related debt issuance has been approximately $1.5 trillion, and US M2 has increased by roughly the same amount during the same period. He believes the three factors that could pop the AI bubble include rising energy costs, the market's inability to absorb three major AI-related IPOs — namely SpaceX, Anthropic, and OpenAI — and Trump's shift to opposing AI. In terms of portfolio, Hayes stated that Maelstrom's stock portfolio holds significant positions in US-listed energy producers; he has sold AI-related stocks and offloaded non-core crypto assets, having dumped HYPE, NEAR, and WLD last week, as well as selling ZEC due to the Orchard Pool vulnerability. He still holds Bitcoin and ETH and will execute tactical short trades via derivatives.
Arthur Hayes Liquidates Entire ZEC Position Due to Orchard Pool Vulnerability
Arthur Hayes (@CryptoHayes), co-founder of BitMEX and CIO of Maelstrom Fund, stated in a post that he has liquidated his entire $ZEC position following a vulnerability exploit targeting ZEC’s Orchard Pool. Hayes noted that although malicious minting is highly unlikely, it cannot be cryptographically proven impossible; privacy narratives demand “perfection,” not merely “probable security.” He added that if the underlying assumptions are later falsified, he does not rule out repurchasing $ZEC at a lower price. His team continues to hold a $WLD position and maintains a bullish stance.
Bitcoin’s Quantum Security Crisis: 6.9 Million BTC at Risk, Governance Challenges Impede Response
According to CoinDesk, while quantum computers cannot break Bitcoin’s mining mechanism or blockchain ledger, they could potentially crack the elliptic curve cryptography (ECC) that secures wallet ownership—using Shor’s algorithm. Currently, approximately 6.9 million BTC—roughly one-third of the total supply—are at potential risk because their public keys are already visible on-chain; this includes Satoshi Nakamoto’s estimated early holdings of about 1 million BTC. Transactions generated after Ethereum’s 2021 Taproot upgrade are similarly exposed due to public key disclosure. Ethereum has maintained an official post-quantum migration plan since 2018, with four full-time teams and over ten independent development groups, and operates a dedicated progress website at pq.ethereum.org. In contrast, Bitcoin currently lacks a unified roadmap for quantum resistance: existing proposals such as BIP-360 and BitMEX Research’s detection framework have not gained broad support among core developers. Prominent Bitcoin advocate Nic Carter has bluntly labeled Bitcoin’s quantum response “the worst,” while Blockstream CEO Adam Back acknowledges that current quantum systems remain confined to laboratory settings—but still endorses deploying optional upgrade paths in advance. Analysts note that Bitcoin’s decentralized governance culture makes coordinating large-scale security upgrades extremely difficult, and resolving historical issues—such as how to handle Satoshi’s holdings—presents a particularly thorny dilemma. A related Google paper warns that once quantum attacks become feasible, the window for effective response may already have closed.
Shen Yu: The mining farm's transformer was struck by lightning on the night ZEC mainnet launched, and his personal wallet has not held any ZEC since.
In a post, Cobo co-founder and CEO Shen Yu recalled that ZEC still casts a long shadow over him. When ZEC’s mainnet launched in 2016, BitMEX capped the price at 10 BTC, making it ZEC’s all-time high. He noted that shortly after he began mining on launch night, a transformer at his GPU mining farm was struck by lightning, and since that incident, ZEC has never appeared in his personal wallet again.
BitMEX Co-Founder Ben Delo Makes Major Donation to Reform UK to Support Political Reform
BitMEX co-founder Ben Delo donated millions in funding to the UK's Reform UK (Reform Party) to support the party leader's political agenda and policy reforms.
BitMEX will close its platform on September 23, 2026; the exchange invented crypto perpetual swaps
Odaily News: Cryptocurrency exchange BitMEX has announced that it will fully shut down its platform at 4:00 (UTC) on September 23, 2026. BitMEX CEO Peter Wilkinson stated that the exchange has been operating for over 11 years and has never lost customer funds due to hacker attacks during that period. Peter Wilkinson noted that BitMEX failed to keep pace with its competitors, having long focused on derivatives business while failing to offer spot trading, yield products, custody, and stablecoin trading services in a timely manner. The exchange also entered the USDT market relatively late, in 2021. He stated that BitMEX once supported its founding team in pioneering perpetual swaps, a product that has since become one of the highest-trading-volume financial instruments in the crypto industry and is now widely used for leveraged cryptocurrency trading. (Bitcoin.com News)
BitMEX Faces 623 BTC Class-Action Lawsuit on Day of Closure Announcement
According to Cointelegraph, BitMEX was sued in a class-action lawsuit by BKX Services Inc. and David Namdar in the U.S. District Court for the Southern District of New York on July 24. The plaintiffs allege that BitMEX's internal trading team used privileged access during server freezes to illegally obtain customer Bitcoin collateral by manipulating the forced liquidation mechanism. The two plaintiffs suffered a combined loss of 622.66 BTC (BKX lost at least 305.81 BTC, and Namdar lost over 316.85 BTC). The plaintiffs demand the return of the seized Bitcoin and seek compensatory and punitive damages, representing U.S. users who purchased BTC swap products since July 23, 2018. Notably, the lawsuit was filed on the same day as the announcement of BitMEX's closure—BitMEX's parent company HDR Global Trading announced it will cease services on September 23 and has stopped accepting new user registrations. Following the announcement, the price of its BMEX token plummeted by approximately 90%.
Bubblemaps: 75% of BitMEX Token Allocation Never Circulated On-Chain
According to blockchain data analytics platform Bubblemaps, after BitMEX announced its closure, the price of its platform token BMEX dropped significantly, falling approximately 95% from its previous levels. However, based on the tokenomics publicly disclosed by BitMEX, about 75% of the total BMEX supply was originally planned for employee incentives, ecosystem development, and long-term reserves, but these tokens were never distributed on-chain. Data shows that approximately 92% of the BMEX supply was locked in vesting contracts in 2021, with the remaining 8% distributed at the token launch, including: 5% for airdrops and 3% for product and liquidity support.On November 2, 2022, the product and liquidity address claimed approximately 63.75 million BMEX, while addresses designated for employee incentives, ecosystem growth, and long-term reserves did not claim any tokens. Bubblemaps stated that this does not necessarily indicate a problem, as the project may have subsequently adjusted its tokenomics, contracts, or distribution plans, which were not reflected on-chain.
CZ: Regrets BitMEX Didn't Survive the "War on Crypto"
CZ expressed regret over BitMEX's closure announcement, recalling that BitMEX pioneered the 100x leveraged perpetual contract in the crypto market in 2014, driving industry development.CZ noted that BitMEX only supported BTC deposits and single-chain operations at the time, and adopted a once-daily, multi-signature wallet batch withdrawal process. These seemingly inconvenient designs, he said, actually helped the platform avoid hacker attacks over the long term.He also mentioned that BitMEX's four co-founders admitted to violating the Bank Secrecy Act (BSA) one month before their trial, each being fined $10 million and sentenced to home detention, with no prison time. However, CZ believes that BitMEX's business ultimately couldn't withstand the "War on Crypto" during the Biden administration.In conclusion, CZ stated that BitMEX is currently winding down in an orderly fashion, users can still withdraw assets, and he paid tribute to co-founder Arthur Hayes.
Related news
Reform UK Receives Largest Ever Donation from Cryptocurrency Billionaire Delo
BitMEX co-founder Ben Delo has donated £36 million to Reform UK, setting a new record for large political donations in the UK.
Shen Yu: The mining farm's transformer was struck by lightning on the night ZEC mainnet launched, and his personal wallet has not held any ZEC since.
In a post, Cobo co-founder and CEO Shen Yu recalled that ZEC still casts a long shadow over him. When ZEC’s mainnet launched in 2016, BitMEX capped the price at 10 BTC, making it ZEC’s all-time high. He noted that shortly after he began mining on launch night, a transformer at his GPU mining farm was struck by lightning, and since that incident, ZEC has never appeared in his personal wallet again.
BitMEX Co-Founder Ben Delo Makes Major Donation to Reform UK to Support Political Reform
BitMEX co-founder Ben Delo donated millions in funding to the UK's Reform UK (Reform Party) to support the party leader's political agenda and policy reforms.
Arthur Hayes: BTC Targets $1 Million by 2030, But ETH Remains the Top Choice
According to Cointelegraph, BitMEX co-founder Arthur Hayes stated in the latest episode of the Trade Secrets show that factors such as the burst of the AI bubble, massive monetary expansion, and potential U.S. yield curve control will drive Bitcoin to $1 million by 2030. He believes $58,000 may already mark the bottom for this cycle, with Bitcoin poised to enter a "rise amid hate" phase. Despite this, Hayes currently favors Ethereum as his top pick, viewing it as severely undervalued given its role as DeFi's foundational layer. It remains the only large-cap cryptocurrency to have yet surpassed its 2021 all-time high, offering upside potential for a rapid 3x to 5x gain. In contrast, he has adopted a more cautious stance toward Hyperliquid, arguing that its asymmetric upside potential has significantly narrowed.
Arthur Hayes: ETH/BTC Ratio Hits Bottom and Rebounds, Ethereum May See Capital Inflow
According to Cointelegraph, BitMEX founder Arthur Hayes (@CryptoHayes) recently expressed a bullish view on Ethereum, noting that ETH had previously suffered massive market sell-offs and was almost "forgotten," but its ratio against Bitcoin has recently rebounded significantly, which he sees as a signal of the market waking up again.
Arthur Hayes: Basis trading shows signs of resurgence, ENA may benefit
BitMEX co-founder Arthur Hayes stated that his OTC brokers have begun receiving inquiries regarding USD borrowing demand. While current interest rates remain at low levels, he believes this may indicate a resurgence in basis trading, and added that the Ethena-related token ENA could benefit as a result.