The Cryptocurrency Traps in Arthur Hayes’ Perspective: Permissioned DeFi, RWA, and Tokenized Bond Ownership
BitMex founder Arthur Hayes released another lengthy article over the weekend titled “Expression,” in which he discusses what he sees as the pitfalls of the crypto world, namely Permissioned DeFi, RWA, and asset-backed tokens such as USDT. As someone with a traditional finance background who has been involved in the crypto industry for a long time, Hayes expresses his dissatisfaction with traditional financial institutions entering the DeFi space and the integration of real-world assets. He even believes that investing in related tokens is a value trap. What exactly are the reasons behind his views?
