PANews reported on July 3rd that BitMEX founder Arthur Hayes stated in his latest article that the US government provides trillions of dollars in liquidity tools for too-big-to-fail (TBTF) banks through stablecoin policies, which is not a manifestation of DeFi or financial freedom, but rather "debt monetization disguised as innovation". He believes that stablecoins will be used to purchase Treasury bonds to maintain stock market growth, fill fiscal deficits, and weaken the competitiveness of financial technology companies like Circle.
Hayes pointed out that instead of waiting for Federal Reserve Chairman Powell to announce "unlimited quantitative easing", investors should consider going long on Bitcoin and JPMorgan, rather than focusing on companies like Circle. He emphasized that the stablecoin "Trojan horse" has already infiltrated the market, with the goal of maintaining stock market bubbles, funding fiscal deficits, and appeasing elderly investors by purchasing Treasury bonds. He called on investors to seize the opportunity and not wait for the Federal Reserve to further release liquidity.
