August 6 news
Arthur Hayes, co-founder of BitMEX, said in an interview:
The election results have little impact on the crypto industry: Hayes believes that whether Trump or Harris wins the next presidential election, it actually makes little difference to the crypto industry. Although the crypto industry has donated a lot of money to Trump, this amount of money is dwarfed by the donations from big banks such as JPMorgan Chase, Morgan Stanley, Citibank and Goldman Sachs. Moreover, many people in the government come from these big banks. So even if Trump is elected, he may still face the same problems as when he first became president.
Money printing policy and cryptocurrencies: Hayes said that no matter who is elected president, the government will continue to print money to stimulate the economy. Although different governments may do it differently, it will eventually put more money in the market. In this case, cryptocurrencies, as a good hedge against inflation, are likely to become more valuable as the government prints money. Of course, this road may be bumpy, but in the long run, the value of cryptocurrencies should rise.
SEC and Regulation: Regarding the issue of the U.S. Securities and Exchange Commission (SEC) and its chairman Gary Gensler, Hayes feels that this is mainly a political issue, not a personal issue. Even if Gary Gensler is replaced, as long as the existing regulatory rules remain unchanged, the regulatory environment of the crypto industry will not change much. The real problem is that legislators have not established a suitable legal framework for cryptocurrencies, not the SEC or Gary Gensler.
in conclusion
Arthur Hayes's view is that no matter who becomes the next president, cryptocurrencies are likely to become more valuable because the government prints money. But for the industry to develop healthily, a clearer and more friendly regulatory environment is needed.
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