Arthur Hayes, co-founder of BitMEX crypto exchange, seems to be bullish for the digital asset market, specifically Bitcoin (BTC), amid the ongoing global bank crisis. Targeting Bank Term Funding Program (BTFP) report, he stated the Federal Reserve Board conducted a $4.4 trillion quantitative easing while helping the banks.

Crypto exchange BitMEX published an announcement on its website and said it halted all activities except for canceling options.

Hayes drew parallels to the 2008 financial crisis, when the Troubled Asset Relief Program (TARP) was initially implemented but failed to prevent the market from falling.

Former BitMEX CEO Arthur Hayes has proposed a stablecoin that aims to be completely independent of the U.S. dollar.

BitMEX co-founder Arthur Hayes has proposed a Bitcoin-backed dollar-pegged stablecoin NakaDollar (NUSD) which would be backed by $1 Bitcoin and one inverse perpetual swap of BTC against USD.

Those startups include Alchemy, Blockchain.com, Chainalysis, Kraken, ConsenSys, Blockdaemon, CoinDCX and OpenSea.

Arthur Hayes, co-founder and former CEO of BitMEX cryptocurrency exchange, has proposed creating a new stablecoin with a value pegged to the sum of $1 worth of Bitcoin (BTC) and one inverse perpetual swap of BTC against USD. He outlined the idea of the potential Satoshi Nakamoto Dollar (NUSD), or NakaDollar, in a blog post titled “Dust on Crust” on March 8.

Former BitMEX CEO Arthur Hayes expects a risk-on, crypto bull market between now and 2026.

Arthur Hayes, Co-Founder and former CEO of crypto derivatives exchange BitMEX, has warned that he believes a massive cryptocurrency price correction is coming, but noted that after it there could be a sustained bull run he is “super bullish” about.

BitMEX, a prominent cryptocurrency exchange in the United Kingdom, has recently launched its accelerated withdrawal feature. The platform previously only supported once-per-day withdrawals.