Su Zhu, co-founder of Three Arrows Capital (3AC), has obtained a restraining order against Arthur Hayes, co-founder of BitMEX, from a Singapore court. The order prohibits Hayes from using threatening or abusive language towards Zhu and his 3AC partner Kyle Davies. Hayes has been tweeting at Zhu and Davies, asking for $6 million he says is owed following the collapse of the fund last year. The court order prohibits Hayes from communicating with Zhu by any means and from publishing any identity information.

PEPE token has surged to a market cap of $502 million since its issuance last month, with a 2,100% rise. It has around 75,000 holders, with some wallets holding more than $5 million worth of the tokens. The token surged by 350% over the weekend, and BitMEX has listed perpetual swaps for PEPE with up to 50x leverage. However, some early investors have been cashing out, with one losing $350,000 due to minimal liquidity and another causing a 50% price drop by cashing out $678,000 worth.

Hayes, the founder of the cryptocurrency exchange BitMEX, said he sees crypto as an important asset for consumers to own as a hedge against risk from the traditional banking system.

BitMEX’s Arthur Hayes cited an anonymous source and claimed that the founders of the controversial project, Zhu Su and Kyle Davies, received a “lot of money” from the sovereign wealth fund of the Kingdom of Bahrain. His tweet further added:

Arthur Hayes and Akshat Vaidya are looking to beat bitcoin and ether’s returns, but they are going to take their time doing it.

Arthur Hayes, the co-founder and former CEO of crypto exchange BitMEX, criticized both custodian and decentralized stablecoins and proposed a new stablecoin called the Satoshi Nakamoto Dollar, or NakaDollar (NUSD). Unlike existing stablecoins, NUSD would be supported only by Bitcoin.

Arthur Hayes, the co-founder and former CEO of crypto exchange BitMEX, criticized both custodian and decentralized stablecoins and proposed a new stablecoin called the Satoshi Nakamoto Dollar, or NakaDollar (NUSD). Unlike existing stablecoins, NUSD would be supported only by Bitcoin.

Crypto exchange BitMEX was built to weather the current market turmoil caused, in part, by the failure of three U.S. crypto-friendly banks within a week, said Stephan Lutz, acting CEO and group chief financial officer.

Late last week, Arthur Hayes, Co-Founder and Former CEO of BitMEX, wrote about the potential implications of the Federal Reserve’s new Bank Term Funding Program (BTFP), which came as a response to the recent (SVB) collapse of Silicon Valley Bank (SVB).

BitMEX has announced that the community will have access to the future listing of Arbitrum’s highly anticipated ARB token. It will be airdropped at 3:00 UTC, allowing token holders to be long or short the token with a maximum 20x leverage. The linear futures contract has been designated ARBUSDTM23, is margined in USDT and has nearly identical functionality to the regular contract.