BitMex founder Arthur Hayes has once again released a lengthy article titled “Expression” over the weekend. In the article, he discusses what he sees as the pitfalls of the crypto world, including Permissioned DeFi, RWA, and tokenized ownership of bonds such as USDT. As someone with a background in traditional finance but extensive involvement in the crypto sphere, this influential figure expresses his dissatisfaction with the integration of traditional financial institutions into DeFi and real-world asset tokenization. He even goes as far as to consider investment-related tokens as value traps. What are the reasons behind his stance?
The Crypto Abyss: Arthur Hayes' Perspective on the Perils of Permissioned DeFi, RWA, and Tokenized Bond Ownership