**Hayes: Fed Rate Cut Bad Idea for Crypto?**

Arthur Hayes, BitMEX co-founder, has reiterated that the Federal Reserve’s interest rate cut is a “bad idea.” In an exclusive interview with CoinDesk at Token2049, Hayes expressed his concerns that risk assets like cryptocurrencies could plummet after the Fed rate cut.

- **Interest Rate Cut**: The Fed will announce its interest rate decision today. They have been raising rates since 2020 to control post-COVID inflation.

- **Effects of the Cut**: Hayes noted that while a rate cut would increase liquidity, it could trigger inflationary issues and strengthen the Japanese yen, which would negatively impact risk assets in US dollars, including crypto.

- **“Sugar High” Analogy**: Hayes compared the interest rate cut to a “Sugar High,” which provides a temporary energy boost. This short-term effect could impact the crypto market.

What do you think? Will the rate cut have a big impact on the crypto market? Leave a comment below! 🚀