Arthur Hayes Thinks Stock Exchanges Are Obsolete (And He’s Not Wrong 😂)

Arthur Hayes forecasts crypto-style Equity Perps will replace stock exchanges. 24/7 trading? Why not? 🤷♂️

BitMEX co-founder Arthur Hayes has predicted that crypto-style perpetual futures will crush traditional stock exchanges. He claims equity price discovery will migrate to 24/7 crypto platforms because, apparently, humans can’t function during “off hours.” This is according to recent public statements. Classic.

Arthur Hayes: Equity Perps Will Eat Your Broker’s Lunch

Arthur Hayes, BitMEX co-founder, gave a strong outlook. Crypto-style perpetual futures will replace traditional stock exchange instruments. He argued perpetual swaps are better than dated futures because they offer “greater liquidity and trading” (translation: more chaos). They also let you bet with high leverage, which is just a fancy way of saying “gamble until you’re broke.”

Hayes insists these benefits will shift equity price discovery from “conventional exchanges” to 24/7 crypto platforms by 2026. Because who needs sleep when you can trade? 🌙➡️🚀

Related Reading: Bitcoin Bottom Is Near, Says Arthur Hayes: BTC Price Forecast | Live Bitcoin News

Hayes explained perpetual swaps consolidate liquidity into a single non-expiring contract. It reflects spot prices while letting you borrow 100x your net worth. Socialized loss systems and insurance funds “protect traders” (or just let banks play with your money). He claims this appeals to retail and institutional traders who want “flexible and continuous market access.” Spoiler: It’s just another way to lose money 24/7.

Hayes cited Hyperliquid’s HIP-3, a permissionless protocol for equity perps on-chain. One product is a Nasdaq 100 perpetual, already trading notable volume. Because nothing says “stability” like a decentralized Nasdaq. 🤡

Hayes called this early traction proof equity perps will dominate by 2026. Centralized and decentralized platforms will “rush” to join. Because nothing unites humanity like financial chaos.

Regulators Finally Catching Up? Please. They’re Just Hoping to Keep Up 🙄

Hayes linked perpetual market growth to U.S. regulatory shifts. After FTX’s collapse, 2025 brought “relaxation” under Trump’s admin. This “encouraged experimentation” (code for: “we gave up”). Regulators worldwide suddenly wanted to test derivatives. Because why not? We’ve already burned down two economies. Why stop now? 🔥

This environment birthed sandbox programs and “widespread testing of derivatives.” Hayes claims it pushed major exchanges like CBOE and SGX to launch perps by late 2025. Because nothing says “adapt or die” like regulators pretending they’re not obsolete. 🦖

CBOE and SGX are allegedly launching perps by 2025. Hayes called it an “adapt or die” moment for traditional finance. Established exchanges risk losing liquidity and relevance if they don’t adopt perps. Because nothing’s scarier than a dying stock exchange. 🕯️

Hayes expects S&P 500 and Nasdaq 100 perps to accelerate equity trading into crypto-native markets by the late 2020s. Because why trade during business hours when you can trade during your ex’s Zoom meeting? 🎤

Hayes’s prediction challenges traditional finance’s “status quo.” He praises perpetual futures for their “structural efficiencies” and 24/7 flexibility. Because nothing’s more efficient than a system that burns through your savings in 6 hours. 💸

Decentralized protocols like Hyperliquid’s HIP-3 prove on-chain equity perps are a “revolution.” They “encourage financial inclusion” (read: let everyone lose money equally). Because nothing’s more democratic than crypto’s “infinite leverage.” 🎉

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2025-11-28 21:47