Arthur Hayes: Bank-Issued Stablecoins to Power U.S. Debt Markets and Crypto Rally
Former BitMEX CEO Arthur Hayes has issued a provocative new analysis suggesting that the next wave of U.S. government debt financing will come not from the Federal Reserve, but from the private sector - via stablecoins issued by major U.S. banks. In a July 3 Substack post, Hayes outlined how a “stea