NEW interviews from Maelstroms Chief Arthur Hayes The latest insights on Digital Assets Financial Markets and Web3 IssueWire issuewire.com/new-interviews…

🦔Community protests have blocked $130 billion in data center projects so far this year. Q1 2026 produced the most blocked and delayed projects on record. Nashville collected 180,000 petition signatures in days. Charlotte voted on a moratorium. My Take These companies committed hundreds of billions in capex and filed IPOs on the assumption the data centers would get built. $130 billion of them didn't. Communities across the country figured out how to organize against these projects before the developers could lock in permits. The industry built its financial models around infrastructure that doesn't have permission to exist yet, at least not on the timeline the IPOs need. Hedgie🤗

你好吗

Join us with @CryptoHayes, Co-Founder of BitMEX & CIO at @Maelstromfund, as we speak about the AI bubble, Bitcoin’s weakness, oil shocks, rates, MicroStrategy risk, and what could trigger crypto’s next big move. x.com/i/broadcasts/1wGWjjqrB…

Arthur Hayes (@CryptoHayes) sat down with Decrypt to discuss the state of the crypto market, from catalysts that could dispel boredom among retail investors to price targets that fell through last year. In this interview, he offers some wisdom for those feeling the bite of crypto winter, while warning of economic risks tied to AI. 00:29 - What's your timeline for TradFi adopting 24/7 perpetual futures just in order to survive? 04:33 - What's the catalyst we need to snap the market out of boredom? 08:55 - Corporate overspending on AI leading to a subprime crisis, & how BTC will fare 11:24 - What are the biggest risks that Hyperliquid actually faces? 12:40 - How do you feel about the privacy narrative and how is it driving ZCash? 16:28 - What do you see people actually doing from a retail perspective beyond speculation and trading at this point? 19:10 - What’re you saying to people right now who are coming to you with a sense of exasperation in the crypto market?

Happy Friday the $SPCX IPO edition. Can Barron von Elon save the market?

The biggest inflection point in markets this year is NOT the SpaceX IPO Arthur Hayes believes Trump will pop the AI bubble to win the midterm elections "He can't fix inflation, he can't end the war... the only option he has left is to flip on the AI bros." He predicts H2 will be risk off across crypto and equities as Trump Watch the full interview now 00:00 Welcome Arthur Hayes The HYPE Trade 02:00 Arthur’s Trading System and Narrative Shifts 04:15 Why HYPE Became Attractive Again 06:11 Why HYPE Stayed Strong vs Competitors 08:20 H2 Macro Outlook and the Iran/Oil Risk 11:21 Why Higher Energy Prices Threaten the AI Story 14:13 Why Arthur Dumped Risk Assets 15:48 Balancing Macro Signals with Momentum 17:20 Liquidity, Treasury Issuance, and the AI Bubble 18:21 Has Crypto Delivered on Its Original Promise? 20:21 Bitcoin to $1M and the Money Printing Thesis 21:34 Bitcoin vs Gold and Long-Term Store of Value 22:34 Can You Still “Make It” in Crypto? 24:52 Trading vs HODLing: What Actually Works Now 25:49 Lifestyle, Money, and What Actually Buys Happiness 27:48 Arthur’s Big Contrarian Prediction on AI 30:17 Trump, Politics, and the Power Game 32:21 Attention, Entertainment, and Financial Commentary 34:31 Why Being Entertaining Matters More Than Being Right 36:20 Arthur’s Bitcoin Bottom Prediction 36:58 House Music, Ibiza Picks, and Final Thoughts

Price wars are always great for equity valuations 😭😭😭😭😭😭

Everyone's calling the top on AI capex. @CryptoHayes thinks they're dead wrong. Our very own @BMcGleenon sat down with the Maelstrom founder to break down where this massive build is really heading. And what did he say about $ZEC and privacy coins? (He's since exited the bag) 👀 Check out the full episode 🎧 youtube.com/watch?v=U17xd57B…

The news just broke that SoftBank could not secure a 6bn$ vs its OpenAI shares Let me tell you a thing: if you cannot secure a 6bn$ loan against collateral you claim is worth ~100bn$, then the latter isn't worth ~100bn$. In this case, it might be worth not much more than 6bn$.

LFG

Margin loans on AI IPOs, lets see how this ends …

Bitcoin had trillions in liquidity behind it. So why didn't it moon? @CryptoHayes asked himself a simple question. If trillions in liquidity were created since 2022, why didn't Bitcoin go higher? The answer: AI consumed it all. $1.5 trillion in debt issued to AI companies. Most of it in 2025 and 2026. Bitcoin never had a chance. Full video in comments 👇

$SPCX IPO pop indicating 17%, is that enough to keep the AI dream alive?

New Essay dropped "Reality Test" Am I dreaming - or is AI investing as easy as buying a subscription to Citrini Research and buying every stonk they write about? Am I dreaming - or does the price of oil not matter to economics or politics and that is why Trump and the IRGC can continue trading rhetorical barbs over social media while ships languish in the Strait of Hormuz? Am I dreaming - or does the 2-year US treasury yield trading 0.5% over the effective funds rate not lead to the Fed raising rates at an upcoming meeting? Am I dreaming - or can the entire gains of AI to America accrue to a few tech bro douche nozzles? To check whether I’m lucid dreaming about this FUBAR universe in which I inhabit, I must perform a reality test. And if this test fails, I know I am dreaming and must alter my portfolio. Let this essay be that test, and at the end of the cathartic experience that is tap-tapping on my word processor, my portfolio will have undergone immense changes or none at all. My theory at the outset is that I am indeed dreaming. The most important variable that exerts a reflexive effect upon the whole investing complex is the price of oil and other hydrocarbons. Our ability to experience the universe hinges on the efficiency with which we convert energy into biological and or artificial intelligence. Nothing violates this truth. And while the markets may, for a blip in time, appear to negate this law, shit always comes back to bite you in the proverbial ass. ... full essay on my substack

This was the next assignment we were going to give to analyst #3 to investigate but he said he’d rather go back to Iran

This chart is going in the wrong direction. Dumped $WLD. I’m out. See y’all at the clerb.

That outperformance is $WLD. Never bet against Elon ...

The Holy Trinity is dead. Sadly due to the Orchard Pool exploit, I had to dump our entire $ZEC bag. - While I think it's extremely unlikely of any minting, it cannot be formally cryptographically proved impossible - The privacy from AI, govt, big tech narrative demands perfection not improbability - I read about the exploit yday, and didn't appreciate how it violated my narrative mental map. The 30% dump, made me rethink, and I had to take profit on the entire position - We will consistently re-evaluate our thinking and if my assumptions are proven incorrect, will rebuy, hopefully at lower prices. - Privacy is priceless and I have no issue eating humble pie and rebuying much higher. We still hold $WLD and are excited for Lord Elon to pump our bags.

Thanks Jeff