Arthur Hayes: Currency Expansion May Drive Cryptocurrency Prices Up

By: cointelegraph.com|10/02/2026 10:37:19

Arthur Hayes stated that U.S. policymakers' currency expansion to support the AI industry and government debt financing could drive cryptocurrency prices up; if China shifts from limited tightening to large-scale monetary stimulus, it may also boost demand for scarce assets. He is paying attention to financial pressures in France, including credit default swaps related to BNP Paribas and the yield spread of French government bonds. Catrina Wang, a general partner at Portal Ventures, pointed out that banks and asset management companies have an advantage in on-chain financial markets due to their existing customer relationships. Todd McDonald, co-founder of R3, mentioned that public chains can help institutions reach customers beyond their own networks. Justin Kugel, executive vice president of growth at World Liberty Financial, stated that the demand for asset management and investment evaluation still leaves room for intermediaries. Chetan Karkhanis, senior vice president of digital asset client relations at Franklin Templeton, indicated that the company has no intention of issuing its own stablecoin and hopes to provide investment returns through tokenized money market funds. Haonan Li, co-founder and CEO of Codex, noted that trade routes connecting Latin America, Sub-Saharan Africa, and Asia are driving demand for stablecoin payments. Ilya Podoynitsyn, co-founder and CEO of FinHarbor, stated that companies need to confirm they have long-term idle funds that do not affect daily operations before allocating crypto assets. Michael Camarda, chief development officer at SharpLink, an Ethereum treasury company, stated that stock buybacks and increasing ETH holdings can both enhance the per-share ETH ownership, catering to the preferences of institutional and retail investors.

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Major equity indexes closed higher on October 5 ET, and the Nasdaq set another record high. Tech drew inflows after weak labor data cooled rate-hike expectations, but the 10-year and 30-year yields rose intraday to about 5.34% and 5.70%. The services prices index rose to 74.0, a four-year high, so the rate overhang has not cleared. EWZ and PBR jumped on election and resource-discovery narratives, while SpaceX hit a stage high. Bitcoin traded near $86,000. On October 6 ET, markets will watch Amazon’s fall Prime event and early sales signals for consumer-sector pricing.