Latest news with #BitMEX
Yahoo
a day ago
- Business
- Yahoo
Arthur Hayes Says 'Buy Everything Round Dos' As Court Deems Trump Tariffs Illegal
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. BitMEX co-founder and Maelstrom investment chief Arthur Hayes has suggested that a recent court ruling overturning most of Trump's tariffs may present a significant buying opportunity. Hayes was bullish even with Trump's tariffs in place. The analyst has predicted that Bitcoin will soon break the seven-figure price mark. The past few months have been a wild ride for investors in almost every market as President Donald Trump's erratic tariff policies yanked prices in every direction. Amid recent legal developments, however, the sustainability of these tariffs have come under question. And BitMEX co-founder and Maelstrom investment chief Arthur Hayes has suggested that this may offer a significant buying opportunity. 'Buy everything round dos,' Hayes said Thursday on X in response to the U.S. Court of International Trade's ruling labeling Trump's global tariffs as illegal and blocking them throughout the country. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Round one was when the U.S. and China agreed to walk back massive reciprocal tariffs for 90 days on May 12. 'BUY EVERYTHING CHI-MERICA LIVES!!!!' Hayes said on X at the time. Bitcoin has surged nearly 7% since then to clinch new record highs near $112,000. Meanwhile, the Nasdaq and S&P 500 have surged about 6% and 3%, respectively. The market analyst's latest remarks came as a federal trade court's ruling promised to further defuse trade war tensions and improve risk sentiment in the market. Indeed, the markets initially ticked up in response to the decision. Bitcoin climbed about 1% from $107,600 to $109,000. The Nasdaq notched a modest 0.4% gain in after-hours trading. At last look, however, Bitcoin has roundtripped its gains to trade 1% lower on the day, falling to $106,000. The Nasdaq also experienced wild swings but held on to its initial 0.4% gains at market close. The volatility comes as a federal appellate court has stirred uncertainty by temporarily suspending the trade court's ruling while it considers motions from both sides. Trending: New to crypto? on Coinbase. Still, Hayes was bullish even with Trump's tariffs in place. He claimed that the Treasury would quietly step in to manage the fallout from tariffs with bond buybacks. He said these buybacks will inject liquidity into the market and prop up risk assets. For Bitcoin, in particular, Hayes framed current market conditions as a win-win. Beyond the prospect of fresh liquidity, he said that Trump's tariffs would push investors away from U.S. assets toward non-sovereign assets, such as gold and Bitcoin. 'Now that the global community believes Trump is a madman crudely and savagely wielding the tariff weapon, any investor with U.S. stocks and bonds is looking for something whose value is anti-establishment. Physically, that's gold. Digitally, that's Bitcoin,' he wrote at the time. According to Hayes, this will help drive the price of Bitcoin to a staggering $1 million per coin by 2028. This prediction suggests a nearly 10x price potential from current levels. In the short term, he has predicted that the asset will trade between $200,000 and $250,000 by year-end. Read Next: A must-have for all crypto enthusiasts: . Invest Where It Hurts — And Help Millions Heal: Image: Shutterstock This article Arthur Hayes Says 'Buy Everything Round Dos' As Court Deems Trump Tariffs Illegal originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Prediction: Bitcoin Will Hit $1 Million During the Trump Presidency (But It Won't Happen the Way You Think)
Bitcoin could hit a price of $1 million by 2028, according to crypto entrepreneur Arthur Hayes. While pro-Bitcoin initiatives from the government get all the attention, crypto investors should also keep their eye on factors impacting the U.S economy. Fiscal and monetary policies embraced by the U.S. government could lead to money flowing into Bitcoin at a rapid pace over the next three years. 10 stocks we like better than Bitcoin › Now that Bitcoin (CRYPTO: BTC) has hit the $100,000 price level, the future looks very bright indeed. Some forecasts now call for Bitcoin to hit a target price of $1 million within the next decade. But it may not take a full decade for Bitcoin to hit the $1 million mark. At the recent Bitcoin 2025 conference in Las Vegas, Arthur Hayes, the billionaire co-founder of cryptocurrency exchange BitMEX, outlined a potential scenario by which Bitcoin could hit a price of $1 million as early as 2028. So is he right? There are a number of different ways to come up with a price of $1 million for Bitcoin. One popular approach is to look at current Bitcoin adoption rates around the world and then extrapolate how fast Bitcoin could grow over the next decade. The more use cases you can find for Bitcoin, and the faster that Bitcoin grows, the higher the price target becomes. That's how Cathie Wood of Ark Invest came up with her original $1 million price target for Bitcoin. Or, you could choose to compare Bitcoin to a specific asset and then assume that the valuation gap between Bitcoin and that asset will narrow over time. Right now, the asset that everyone is using for comparison is physical gold, which has an approximate market valuation of $20 trillion. If Bitcoin grows from a $2 trillion asset into a $20 trillion asset, that would imply a 10x return on investment. Given Bitcoin's current price of $100,000, that leads to a future price target of $1 million. But there's a third way to value Bitcoin, and it focuses on how specific government fiscal and monetary policies can impact the crypto market. This is the approach that Hayes uses in his Bitcoin 2025 presentation. He thinks that the U.S. government could inject nearly $9 trillion of liquidity into the economy over the next three years. That's significantly more than the $4 trillion that the U.S. government injected into the economy during the COVID pandemic. When that happened in 2020 and 2021, the price of Bitcoin soared from $7,000 to $70,000 for a 10x return on investment. Could that happen again? If the same scenario repeats, then Bitcoin might soar from $100,000 to $1 million. So why would the U.S. government want to inject $9 trillion into the economy? Well, it comes down to the difficult macroeconomic problems facing the U.S. government. There are massive trade deficits with trading partners around the world. There are massive fiscal deficits, with no end in sight to government spending. And there are warning signs of recession and inflation everywhere. In many ways, 2025 has been a crash course study on how hard it is to solve those problems. For example, if you try to bring down government spending with DOGE cost-cutting programs, you risk a public backlash. If you try to bring down trade deficits using tariffs, you face a global investor backlash. In the scenario envisioned by Hayes, the U.S. government is going to find it harder and harder to find buyers for its debt. It can't offer higher interest rates on that debt to attract buyers because the cost of debt service is already staggeringly high. So it will have to resort to more and more creative measures. One of these, says Hayes, is a potential change to how banks can buy U.S. government debt. This could lead to a "bank bond-buying bonanza." At the same time, if tariffs lead to economic pain for everyday Americans, then the U.S. government will be forced to do something -- anything! -- to reduce some of this pain. Once mid-term elections roll around in 2026, the pressure will intensify. As longtime Bitcoin investors will tell you, this always leads to the same solution: printing more money. Many people assume that the path to $1 million for Bitcoin is paved with all of the new pro-crypto policies being rolled out by the Trump administration. They assume that the creation of the Strategic Bitcoin Reserve will lead to significant government buying of Bitcoin, thereby pushing up its price over time. They assume that new crypto legislation, combined with a hands-off approach to crypto regulation, will be enough to juice the price of Bitcoin. However, if Bitcoin is going to hit $1 million during the Trump presidency, it will likely require quite a bit of economic pain along the way. It might even require global investors to lose faith in the U.S. economy. All of this is very bad for America, of course. But, at the same time, it could be very good for Bitcoin if it leads to new investor inflows into crypto. So be careful what you wish for. Bitcoin may reach $1 million, but it won't happen the way you think. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $657,385!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $842,015!* Now, it's worth noting Stock Advisor's total average return is 987% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Dominic Basulto has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy. Prediction: Bitcoin Will Hit $1 Million During the Trump Presidency (But It Won't Happen the Way You Think) was originally published by The Motley Fool
Yahoo
2 days ago
- Business
- Yahoo
Prediction: Bitcoin Will Hit $1 Million During the Trump Presidency (But It Won't Happen the Way You Think)
Bitcoin could hit a price of $1 million by 2028, according to crypto entrepreneur Arthur Hayes. While pro-Bitcoin initiatives from the government get all the attention, crypto investors should also keep their eye on factors impacting the U.S economy. Fiscal and monetary policies embraced by the U.S. government could lead to money flowing into Bitcoin at a rapid pace over the next three years. 10 stocks we like better than Bitcoin › Now that Bitcoin (CRYPTO: BTC) has hit the $100,000 price level, the future looks very bright indeed. Some forecasts now call for Bitcoin to hit a target price of $1 million within the next decade. But it may not take a full decade for Bitcoin to hit the $1 million mark. At the recent Bitcoin 2025 conference in Las Vegas, Arthur Hayes, the billionaire co-founder of cryptocurrency exchange BitMEX, outlined a potential scenario by which Bitcoin could hit a price of $1 million as early as 2028. So is he right? There are a number of different ways to come up with a price of $1 million for Bitcoin. One popular approach is to look at current Bitcoin adoption rates around the world and then extrapolate how fast Bitcoin could grow over the next decade. The more use cases you can find for Bitcoin, and the faster that Bitcoin grows, the higher the price target becomes. That's how Cathie Wood of Ark Invest came up with her original $1 million price target for Bitcoin. Or, you could choose to compare Bitcoin to a specific asset and then assume that the valuation gap between Bitcoin and that asset will narrow over time. Right now, the asset that everyone is using for comparison is physical gold, which has an approximate market valuation of $20 trillion. If Bitcoin grows from a $2 trillion asset into a $20 trillion asset, that would imply a 10x return on investment. Given Bitcoin's current price of $100,000, that leads to a future price target of $1 million. But there's a third way to value Bitcoin, and it focuses on how specific government fiscal and monetary policies can impact the crypto market. This is the approach that Hayes uses in his Bitcoin 2025 presentation. He thinks that the U.S. government could inject nearly $9 trillion of liquidity into the economy over the next three years. That's significantly more than the $4 trillion that the U.S. government injected into the economy during the COVID pandemic. When that happened in 2020 and 2021, the price of Bitcoin soared from $7,000 to $70,000 for a 10x return on investment. Could that happen again? If the same scenario repeats, then Bitcoin might soar from $100,000 to $1 million. So why would the U.S. government want to inject $9 trillion into the economy? Well, it comes down to the difficult macroeconomic problems facing the U.S. government. There are massive trade deficits with trading partners around the world. There are massive fiscal deficits, with no end in sight to government spending. And there are warning signs of recession and inflation everywhere. In many ways, 2025 has been a crash course study on how hard it is to solve those problems. For example, if you try to bring down government spending with DOGE cost-cutting programs, you risk a public backlash. If you try to bring down trade deficits using tariffs, you face a global investor backlash. In the scenario envisioned by Hayes, the U.S. government is going to find it harder and harder to find buyers for its debt. It can't offer higher interest rates on that debt to attract buyers because the cost of debt service is already staggeringly high. So it will have to resort to more and more creative measures. One of these, says Hayes, is a potential change to how banks can buy U.S. government debt. This could lead to a "bank bond-buying bonanza." At the same time, if tariffs lead to economic pain for everyday Americans, then the U.S. government will be forced to do something -- anything! -- to reduce some of this pain. Once mid-term elections roll around in 2026, the pressure will intensify. As longtime Bitcoin investors will tell you, this always leads to the same solution: printing more money. Many people assume that the path to $1 million for Bitcoin is paved with all of the new pro-crypto policies being rolled out by the Trump administration. They assume that the creation of the Strategic Bitcoin Reserve will lead to significant government buying of Bitcoin, thereby pushing up its price over time. They assume that new crypto legislation, combined with a hands-off approach to crypto regulation, will be enough to juice the price of Bitcoin. However, if Bitcoin is going to hit $1 million during the Trump presidency, it will likely require quite a bit of economic pain along the way. It might even require global investors to lose faith in the U.S. economy. All of this is very bad for America, of course. But, at the same time, it could be very good for Bitcoin if it leads to new investor inflows into crypto. So be careful what you wish for. Bitcoin may reach $1 million, but it won't happen the way you think. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $657,385!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $842,015!* Now, it's worth noting Stock Advisor's total average return is 987% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Dominic Basulto has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy. Prediction: Bitcoin Will Hit $1 Million During the Trump Presidency (But It Won't Happen the Way You Think) was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
How James Wynn's $100M Implosion Is Familiar Leverage Tale
Derivatives trader James Wynn emerged out of the woodworks a few weeks ago, flaunting 9-figure bitcoin positions on HyperLiquid as he went on a seemingly undefeatable run that culminated in around $100 million worth of profit. But that run, as is often the case with highly-leveraged crypto derivative trading, came to a shocking end — Wynn liquidated his entire account despite BTC only moving by a couple of percent. "I've decided to give perp trading a break," Wynn wrote on X after the final blow up. "Its been a fun ride. Approximately $4 million into $100 million and then back down to a total account loss of $17.5 million." Wynn's story is nothing new. In 2021, for instance, the industry saw the public rise of Alex Wice — a poker player turned derivatives trader — that also lost $100 million after making huge bets with leverage. And even in 2017, in the BitMEX trollbox days, pseudonymous figures like SteveS and TheBoot used to boast about their 10s of millions in profit and loss before forever fading into obscurity. Cryptocurrency derivatives can be an incredibly useful tool; if a trader holds 500 BTC ($52 million) and believes the market will go down, they can hedge their position by going short -- reducing exposure without having to sell their spot assets, which in itself could cause slippage or front running. An array of delta neutral strategies can also be employed like the classic basis trade that became popular amongst institutional traders on the bitcoin CME futures market, which involve simultaneously going long and short to harvest the funding rate as a yield. But issues begin to form when crypto traders, the majority of whom are inexperienced retail traders, use platforms that offer up to 100x leverage. Imagine a newcomer had $5,000 in trading capital, sure, they could make a few intraday trades and make $50 or $100 per trade, but if they used 100x they could make $50,000 per 10% move. This is the slippery slope of gambling-induced emotional trading that many fall into. Data from NewTrading shows that just 3% of day traders make a profit and 1% do so consistently. And the game becomes even tougher when, in this case, traders are opening positions worth hundreds of millions of dollars. James Wynn's downfall came in part due to his inability to deal with the emotional swings of trading, but also the sheer size of his positions. Wynn would often post about getting partially liquidated and re-opening the position at a worse break-even point. This is indicative of a trader out of his depth through over-leverage. As Wynn used in some cases 40x leverage, his liquidation point left no margin for error, this meant that astute traders or trading firms could hunt his liquidation point and force him into an impulsive trade. HyperLiquid is a relatively liquid derivatives venue, it has millions in market depth within 1% of an asset's price but it does not have hundreds of million, which was required to absorb Wynn's leveraged positions. In reality, Wynn's trade thesis was based around the Bitcoin Las Vegas event and any potential announcements that could lift bitcoin above a new record high. If this came into fruition, Wynn would have had hundreds of millions in unrealized profit, but unfortunately in his case, bitcoin began to slump during the conference as speeches from Michael Saylor and Ross Ulbricht failed to spark any upside momentum. The lack of volatility and Wynn's insatiable appetite to keep betting led to him getting chopped out of the market. His losses became so notable that one trader decided to counter trade every position by going short at the same time as Wynn went long, this trader made $17 million, according to Lookonchain. As the sun finally set on Wynn's derivatives journey he announced he was "going back to the trenches" to trade meme coins, of course. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Straits Times
28-05-2025
- Politics
- Straits Times
Trump to pardon stars of reality show ‘Chrisley knows best' convicted of tax and evasion fraud
Todd Chrisley (second from left) speaks next to his wife Julie Chrisley (left) and their kids Chase and Savannah. PHOTO: REUTERS Trump to pardon stars of reality show 'Chrisley knows best' convicted of tax and evasion fraud WASHINGTON - President Donald Trump is granting pardons to reality television stars Todd and Julie Chrisley, who were convicted of fraud and tax evasion, the latest offer of clemency to prominent figures accused of white-collar crimes. Mr Trump communications aide Margo Martin posted a video to X showing the president on a call with the Chrisleys' daughter, Ms Savannah Chrisley, announcing his decision. 'Your parents are going to be free and clean, and I hope we can do it by tomorrow,' Mr Trump said. 'I don't know them but give them my regards and I wish them a good life.' 'I hear they're terrific people, this should not have happened,' Mr Trump added. The Chrisleys, who starred in the television show Chrisley knows best, were found guilty of conspiring to defraud community banks out of more than US$30 million in fraudulent loans. A jury convicted them of conspiracy to commit bank fraud, bank fraud, wire fraud and conspiracy to commit tax evasion. Julie Chrisley was also convicted of obstruction of justice. The couple's daughter, Ms Savannah Chrisley, spoke at the Republican National Convention in July 2024, criticising the Department of Justice under Mr Trump's predecessor, former President Joe Biden. In February, she had lunch at the White House in her bid to help secure a pardon for her family. Prosecutors said the Chrisleys submitted fake documents to banks when applying for loans and that Julie Chrisley also submitted a false credit report and bank statements when trying to rent a house in California. The couple then used a company they ran to hide income to avoid paying taxes, prosecutors said. Julie Chrisley was sentenced to seven years in prison, while Todd Chrisley was sentenced to 12 years. The couple was also ordered to pay restitution. Mr Trump, a former reality star himself, has pardoned a number of people convicted of white-collar offenses, including granting clemency in March to the three co-founders of the storied crypto exchange BitMEX and to Mr Trevor Milton, the founder of Nikola Corp. Mr Trump has also commuted the sentence of Ozy Media co-founder Carlos Watson, who was convicted over a scheme to con investors out of tens of millions of dollars. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
