BitMEX co-founder Arthur Hayes resurfaces to comment on Robinhood memes stock drama
BitMEX co-founder Arthur Hayes left the network last year after the U.S. government filed criminal charges against him, the crypto derivatives exchange and his co-founders.
BitMEX ultimately decided to replace its management team in the days following the two US lawsuits, meaning Hayes was no longer CEO of the platform. Earlier this month, Vanity Fair published a lengthy article on Hayes and BitMEX, suggesting he could be in Singapore, where he owns a home.
After months of public silence, Hayes is back – at least in written form. In a blog post titled “Walkaway,” Hayes explained the recent drama surrounding Robinhood, GameStop and the ensuing chaos that swept through Wall Street, hit short sellers in the game retailer’s stock and drew the attention from journalists, regulators and members of Congress. . His blog post did not contain any information about his whereabouts, nor did he refer to the charges against him or BitMEX.
“Stonks for the long haul. My stock market hiatus ended when I too was sucked into the stock memes vortex,” Hayes wrote. “Seeing a stock of memes like GME register a ten bagger in a few trading sessions will set any hardened market trader on their feet. I couldn’t resist the urge for YOLO.”
After what amounts to a denunciation of the current trading environment – “[r]Retail traders across the board are providing the cannon fodder for Hamptons pads, Monaco F1 getaways and £ 100,000 bar tabs at The Box, ”he wrote – Hayes hopefully wrote to About what he called the Crypto Capital Market: “Built on the foundation of open source, this new Crypto Capital Markets game promises an open, unlicensed way to move data / value around society. The playing field is cyberspace, and anyone with a device connected to the Internet can play. “
He also promised future blog posts on the subject. “As the traditional financial game is judged and participants feel believed in the face of the excess of perceived inequalities, I will demonstrate in plain language why this behavior cannot or would not persist in the crypto capital markets.”