Latest news with #ArthurHayes
Yahoo
08-07-2025
- Business
- Yahoo
Wall Street analyst hints the GENIUS Act could indeed be genius
Wall Street analyst hints the GENIUS Act could indeed be genius originally appeared on TheStreet. Crypto analyst and former CEO of BitMEX, Arthur Hayes, has revealed why the US government is so curious about stablecoins. Stablecoins are cryptocurrencies directly pegged to or backed by the US dollar. In his blog, Hayes zeroed in on U.S. Treasury Secretary Scott Bessent's strong support for stablecoins, suggesting that this support may not be driven by a genuine interest in financial innovation, but rather by practical fiscal policy. The U.S. government, Hayes notes, is under significant fiscal pressure due to growing deficits and debt and lacks a politically feasible way to raise taxes substantially. The US debt ceiling has reached $5 trillion as of July 8. The government has traditionally financed itself by issuing bonds. However, the market has become increasingly hesitant to purchase long-term government debt without significantly higher interest rates. However, substantially higher interest rates would also considerably increase government borrowing costs, something the Treasury is eager to challenge led the Treasury to think about whether stablecoins could solve their challenges. Recently proposed in the GENIUS Act, with bipartisan support and the backing of Secretary Bessent. The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act aims to create a regulatory framework for stablecoin issuers. However, Hayes predicts it will enable many U.S. banks—not just fintech start-ups—to issue stablecoins at scale. According to Hayes, the banks would then convert their enormous customer deposits into stablecoins, creating a relatively large new pool of money to be used for purchasing short-term U.S. government bonds, also known as in this context, would not pay interest directly to customers. Hence, banks could generate a profit by using stablecoin funds to invest in T-bills, which offer a solid yield with negligible risk. Hayes argues that this monetary strategy serves several purposes: it enables banks to substantially reduce their compliance and operational costs through the operational efficiency of blockchain. Hayes figures this would allow for the conversion of about $6.8 trillion in deposits from traditional banks into stablecoins and push them into treasury purchases. This increase in stablecoin-based funding would help keep government bond yields from rising, reducing borrowing costs, and preventing possible capital market chaos. Wall Street analyst hints the GENIUS Act could indeed be genius first appeared on TheStreet on Jul 8, 2025 This story was originally reported by TheStreet on Jul 8, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arabian Post
02-07-2025
- Business
- Arabian Post
Limitless Secures $4 Million to Turbocharge Token Launch
Limitless, the leading prediction-market platform on Base, has closed a $4 million strategic funding round to bolster its forthcoming token generation event. The injection, led by Coinbase Ventures and featuring Arthur Hayes's family office Maelstrom, elevates the total capital raised to $7 million. Hayes, co‑founder of BitMEX, also joins as an adviser, lending his market insight just as the platform unveils a new points system designed to reward active users. Limitless has carved a niche by offering ultra-short-term asset price markets—contracts that settle within minutes or hours, akin to zero-day-to-expiry options but without the complexity. These have amassed over $250 million in traded volume since launch. With a user base hungry for fast-paced, accessible trading, the platform is now integrating a points programme capable of rewarding participants for trading activity, liquidity provision, and community referrals ahead of its token rollout. CEO CJ Hetherington frames the initiative as a gateway to democratise crypto markets: 'The future of trading is easy, fast, and powered by an army of token holders. We're excited to bring this vision to reality'. The points programme, expected to support token distribution through an airdrop, is aimed at deepening engagement and rewarding loyal users. ADVERTISEMENT The capital will also underwrite a newly launched mobile-first trading interface optimised for global accessibility. The app provides streamlined navigation and faster execution, catering to both casual novices and experienced traders keen on trading on-the-go. Platform enhancements funded by this round include improved infrastructure, expanded feature sets, and beefed-up user acquisition efforts to cement Limitless's edge in the burgeoning decentralised finance prediction market space. The funding round saw participation from top-tier blockchain investors such as 1confirmation, Collider, Node Capital, Paper Ventures, Public Works, Punk DAO, WAGMI Ventures, and the Base Ecosystem Fund via Echo, underscoring strong ecosystem confidence. These backers also supported an earlier $3 million pre‑seed round led by 1confirmation. Limitless plans to become the first major prediction-market protocol to tie its token launch to user engagement, deploying a gamified reward mechanism through its points system to qualify early users for airdrops. This approach reflects broader DeFi trends where platforms align incentives with active, committed participants—creating more sustainable engagement and network vitality. Arthur Hayes's entry as adviser signals strategic depth. His track record at BitMEX suggests he will guide Limitless through nuanced liquidity strategies, regulatory landscapes, and potential volatility management—all pivotal areas for a prediction-market platform targeting rapid growth. Limitless's commitment to innovation is clearly evident. Since launch, it has recorded over $250 million in volume, driven by demand for accessible high‑frequency trading instruments on Bitcoin and other assets. The new funding and points engine prepare Limitless to amplify that momentum, with the token launch slated to reward the platform's most engaged users and cement its position in the DeFi ecosystem. Operationally, this means investing in scalable architecture and user-centred design, while nurturing a community aligned around incentives that both drive platform usage and distribute value equitably. This dual focus on infrastructure and engagement marks a maturing phase for Limitless as it transforms from promising startup to market contender in prediction markets.
Business Insider
01-07-2025
- Business
- Business Insider
Limitless Raise $4m Strategic Funding, Launch Points Ahead of TGE
The largest prediction market on Base, today announces the closure of $4M in fresh funding in a strategic round and welcomes Arthur Hayes as an advisor alongside an investment from his family office, Maelstrom. The funding follows a prior $3M pre-seed round led by 1confirmation, and comes after the team found breakout demand for short term prices markets on assets like BTC, which are similar in nature to 0DTE options but a much easier way to trade and feature even shorter dated expiries such as hourly, racking up over $250M in volume soon after launch. This brings Limitless' total funding raised to $7M, backed by Coinbase Ventures, 1confirmation, Maelstrom, Collider, Node Capital, Paper Ventures, Public Works, Punk DAO, and WAGMI Ventures, as well as individual investors via the Base Ecosystem Fund group on Echo. In preparation for an upcoming TGE, the team today launched a points program targeted at prediction market enthusiasts who can get skin in the game by using the product, providing liquidity, and referring their friends to join the platform. Limitless seems likely to become the first major prediction market platform to launch a token and distribute an airdrop to its early customers, marking a notable opportunity for retail traders. The team also just introduced a new mobile-first trading experience that enables people around the world to seamlessly wager on their favorite assets' performance in the next hour or day. 'The future of trading is easy, fast, and powered by an army of token holders. We're excited to bring this vision to reality,' said CJ Hetherington, CEO at Limitless Labs. Limitless is the largest prediction market on Base with over $250M bet on unique contracts that allow users to wager on the performance of their favorite assets in the next minutes, hour or day - a net new, easy way to trade for casual users. Contact CEO CJ Hetherington
Yahoo
27-06-2025
- Business
- Yahoo
Major fund manager has a one-word 'genius' response to new financial bill
Major fund manager has a one-word 'genius' response to new financial bill originally appeared on TheStreet. Investors still parking cash in USDT may want to rethink that strategy, according to Maelstrom Managing Partner and co-founder Akshat Vaidya. Speaking with TheStreet Roundtable, Vaidya revealed he 'hasn't used USDT in years,' shifting first to USDC and USDe for all of Maelstrom's deployments. Maelstrom is a venture fund managed by the family office of Arthur Hayes — co-founder of BitMEX — building a long-term portfolio of venture-stage infrastructure companies powering decentralization 'Maybe I'm a little bit paranoid, but I don't see why you would use USDT over USDC,' he said, calling the looming GENIUS Act a potential 'not-chosen stepchild' moment for Tether. Vaidya believes Washington will try to 'convince Tether to come onshore and rebuild its business here in the US.' The GENIUS Act could give regulators exactly that leverage. 'There should be a carrot-and-stick model to bring that transparency back home because it is a bit of a systemic risk if everything's offshore,' he warned. The GENIUS Act, passed by the U.S. Senate on June 17, aims to impose strict reserve-backing rules, audited disclosures and anti-money-laundering requirements on stablecoin issuers. The bill now moves to the House of Representatives for a vote. Tether is incorporated in the British Virgin Islands, yet most USDT liquidity ultimately rides U.S. dollar payment rails. If the bill passes in its current form, Vaidya expects U.S. authorities to demand fuller reserve disclosures and real-time audits — requirements the stablecoin giant has so far resisted. Failing to comply could squeeze USDT's access to American banking partners and drain a portion of its market share. For Maelstrom, the unknowns outweigh the convenience USDT offers. 'You're taking a little bit of a risk — not because I know it's a major risk, but because we don't have enough information to know if it is or not,' Vaidya said. That information gap, he added, is itself a risk. While the final language of the GENIUS Act is still being negotiated, Vaidya's message to individual holders is clear: transparency matters. 'Let's see what the final version of this bill looks like once it's actually passed,' he said, 'but I would switch over.' Major fund manager has a one-word 'genius' response to new financial bill first appeared on TheStreet on Jun 26, 2025 This story was originally reported by TheStreet on Jun 26, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
23-06-2025
- Business
- Yahoo
US stocks aren't safe in heated global tensions anymore
US stocks aren't safe in heated global tensions anymore originally appeared on TheStreet. Bitcoin's long-held belief as a major volatile asset has been challenged amid the Iran-Israel conflict. On June 21, the United States carried out a strike on Iran, where it bombed three of its main nuclear facilities — Fordo, Natanz, and Isfahan. While Bitcoin briefly fell from $103,000 to $100,000, it never dropped below the $100,000 mark, unlike in previous cycles. As of June 23, Bitcoin's 60-day realized volatility had fallen to approximately 27% to 28%, according to Bitwise Europe's André Dragosch, which is lower than the S&P 500, which declined by 30%, the NASDAQ 100 by approximately 35%, and "Magnificent 7" by 40%.The "Magnificent Seven" are the top seven U.S. tech stocks that have performed exceptionally well: Apple, Microsoft, Amazon, Nvidia, Alphabet, Meta, and Tesla. However, this is not a one-off situation for Bitcoin. Historically speaking, Bitcoin's volatility has been the lowest. In February 2022, Bitcoin hit volatility levels of 60% to 65% during the onset of the Russia-Ukraine conflict, showing a stark difference from the current pattern, per data available on Glassnode. Analysts also suggest that the difference is mainly attributed to long-term holders and the use of institutional to the Glassnode data, over 30% of Bitcoin's circulating supply is controlled by just 216 centralized entities — like exchange-traded funds (ETFs) issuers, crypto exchanges, and corporate treasuries — compared to long-term holders, who now control a record 14.53 million BTC. Arthur Hayes, the co-founder of BitMEX, believes the price trajectory for BTC will remain bullish, supported by both central bank policies and investor confidence. At press time, Bitcoin was trading at $101,197.17, up by 2.16% in the last 24 hours, as per Kraken's price feed. US stocks aren't safe in heated global tensions anymore first appeared on TheStreet on Jun 23, 2025 This story was originally reported by TheStreet on Jun 23, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
