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Arthur Hayes has a few strong opinions about Donald Trump’s support for cryptocurrencies. In an interview, he said that even if Trump wants to back crypto, the government might not let it happen.  Arthur started his career in finance on Deutsche Bank’s trading floor in Hong Kong back in 2008, right when Lehman Brothers went under. At just 22, he saw the high-flying world of big trades and huge bonuses crumble.  The crash led to heavy regulations and dull office cultures, pushing thrill-seekers like Arthur out of traditional finance and into the world of crypto. Arthur’s crypto journey The Bitcoin white paper was a revelation for Arthur. He told us he found it aligned with his views on the corrupt nature of the banking system.  Over the next decade, he co-founded BitMEX, became a billionaire, and then faced legal trouble in the U.S. Despite these ups and downs, Arthur believes the crypto industry is now mirroring traditional banking in some ways. He says: “It still has that energy of a really diverse group of people all around the world.” Whether they come from finance or tech, they’re drawn to crypto’s potential for huge gains and its high volatility. Trump and crypto: An uphill battle While the crypto industry might be throwing money at politics, Arthur thinks it’s not enough to outdo giants like JPMorgan or Goldman Sachs. Arthur points out that many government agencies are staffed with people from these big banks, making it tough for pro-crypto policies to succeed. Arthur also believes that no matter who’s in power, they will keep printing money. In his words:  “Both the Trump administration or Harris administration will print the money. They do it in different ways. But the money will be printed.” This constant money printing, according to Arthur, means that crypto…

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Filed under: News - @ August 7, 2024 8:20 pm