In a recent statement, BitMEX founder Arthur Hayes commented on some of the recent financial market movements.
According to Hayes, USD liquidity (the amount of US dollars available for financial transactions) is “collapsing” due to the “pumping” of the overnight reverse repo rate (RRP), which is likely the result of “end-of-year window dressing.”
“Window dressing” is the practice of arranging assets in a financial portfolio to make them appear more attractive to others. This can be done for a variety of reasons, but a common goal is to present a portfolio in the best possible way at the end of a reporting period, such as a quarter or year-end.
Hayes also noted that the U.S. Treasury has increased its Treasury General Account (TGA), which has removed USD liquidity from the market.
Arthur Hayes: “Levels Dropped in FTX Crash Needs to be Maintained to View Bitcoin Positively”
Hayes also Bitcoin (BTC) In his statement on the issue, he also explained that if BTC is able to maintain the levels that it fell in the FTX collapse, this will be seen as a positive development.
Overall, Hayes expressed uncertainty about what the future might hold, saying “let’s see what the new year brings.”
Arthur Hayes is the co-founder and former CEO of BitMEX, a cryptocurrency derivatives trading platform. He founded the company in 2014 and served as its CEO until 2020, when he resigned over allegations of misconduct by US regulators.
Before joining BitMEX, Hayes worked as a stock futures trader at various investment banks and trading firms.
*Not investment advice.
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