Arthur Hayes, co-founder and former CEO of BitMEX, issued an article on Monday 23rd admitting that he had misjudged the trend of the yen. After the U.S. Federal Reserve announced an interest rate cut and the Bank of Japan chose to keep the policy interest rate unchanged at 0.25%, it further strengthened the macroeconomic environment of a stronger U.S. dollar and a weaker yen. Bitcoin performed well over the past weekend. This result is exactly in line with Arthur Hayes had earlier predicted the opposite.
Arthur Hayes was interviewed before the Federal Reserve announced the results of the interest rate cut. On the 18th, he boldly predicted that high-risk assets, including cryptocurrencies, may plummet within days after the Fed cuts interest rates. He pointed out that interest rate cuts may exacerbate inflation problems and cause the Japanese yen (JPY) to strengthen, which in turn triggers broader risk aversion in the market.
However, since the Federal Reserve announced a 2-digit interest rate cut on the 19th, the cryptocurrency market has generally performed well. Bitcoin has risen steadily, soaring above $64,000, and then returned to the $63,000 range.
.@IGGYAZALEA can you be my $MOTHER?
I was wrong $JPY weakening, $BTC held up well over the weekend. LFG, and let the good times roll.
Time to trade some dogshit meme coins.
— Arthur Hayes (@CryptoHayes) September 23, 2024
Arthur Hayes also expressed the market's confidence in the post, cheering enthusiastically that "let the good times roll in." In addition, Arthur Hayes also mentioned in the article the meme coin $MOTHER launched by the famous Australian rapper Iggy Azalea, but emphasized at the end of the article that "now is the time to trade some shit meme coins." It is unknown whether this post by Arthur Hayes is really intended to support various “dogshit meme coins”, but it undoubtedly helped promote $MOTHER.
Iggy Azalea announced earlier that she will launch an online casino called "Motherland" that will support $MOTHER tokens for transactions. Azalea also recently posted a long post saying that most people have misunderstood her "Motherland" project. She explained that "Motherland" is not as simple as "online casino" as the public generally understands. She revealed that “Motherland” has perfect brand awareness and will create a hybrid model of a social platform and a casino, and will even have features that allow players to interact and talk with beauties in front of the camera while playing games.
With love – you are wrong.
Iam not building a simple “casino” online as we understand them to be now and a little research on my page & telegram before typing this would’ve helped you understand better. I’ve seen many outlets reporting it in a lazy way framed simply as “a… https://t.co/4IYnJrsHYg
— IGGY AZALEA (@IGGYAZALEA) September 21, 2024
However, there were scandals and controversies when the $MOTHER coin was first issued. The data analysis team Bubblemaps pointed out that there was a large number of suspicious insider trading activities in $MOTHER. These suspicious trading activities were mainly concentrated in a few addresses. These addresses were in the $MOTHER token. They bought on a large scale before the public offering and then sold quickly after the price rose, making huge profits.
Wallet JEEt3D1, known as @invicible on https://t.co/Mf5J11VZay, bought 109T $MOTHER (10% of the supply) before splitting it into 7 wallets. Out of these, 89T tokens have already been sold.
Realized P&L: $1.4M Unrealized P&L: $0.4Mhttps://t.co/DMjhWzyKDi pic.twitter.com/ftrWPo901v
— Bubblemaps (@bubblemaps) May 29, 2024
〈Arthur Hayes admits he was wrong about the Japanese yen’s trend and says it’s time to trade some shit meme coins〉 This article was first published on "Blocker".
