Arthur Hayes said money printing could lift crypto prices, while CONNECT Seoul speakers examined Wall Street’s competitive edge onchain. US policymakers could lift cryptocurrency prices by printing more money to support AI and finance government debt, according to Arthur Hayes, chief investment officer at Maelstrom fund. AI companies need trillions of dollars to finance data centers even as the prices of their services fall, Hayes said at a fireside chat at CONNECT by Cointelegraph: Seoul Edition, on Tuesday during Korea Blockchain Week. “They’ve not really given themselves a lot of options other than print money and make it less bad,” he said. Read more
Stablecoins and tokenized assets are pushing banks, exchanges and crypto companies into the same markets, from payments to stocks and ETFs. The line between crypto companies and traditional finance is blurring. Binance is buying a $100 million stake in Circle, Canada’s six largest banks are exploring tokenized deposits and the New York Stock Exchange is working with Blockchain.com to bring US stocks and ETFs onchain. Crypto companies want a bigger role in payments and traditional assets, while banks and exchanges are bringing those markets onchain without giving up their place at the center of the financial system. This week’s Crypto Biz highlights how stablecoins and tokenized assets put crypto companies and traditional finance on increasingly overlapping turf, with both sides vying for control over how money and assets move. Read more