Arthur Hayes ditches memecoins

Arthur Hayes , the co-founder of BitMEX, once king of memecoins like PEPE and MOTHER, which he lovingly called dogshit,just dropped a bombshell. The man’s done with memecoins.

Now, it’s all about the real money, the high-yield DeFi protocols that actually pay dividends to token holders. No more gambling, just cold, hard, yield-generating DeFi action.

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Value for everyday token holders

In a chat with crypto investor Kyle Chasse, Hayes spelled it out. The memecoin circus? Too risky for the kind of serious capital he wants to move.

His new creed is show me the money. Hayes wants projects that return value to everyday token holders, not just some fancy venture capital firms with fat pockets.

“I don’t give a damn if Sequoia and a16z are on your cap table. Where’s my money?”

So, which DeFi darlings caught his eye? EtherFi, Ethena, and Hyperliquid. Hayes predicts wild returns, think 34x for EtherFi, 51x for Ethena, and 130x for Hyperliquid by 2028. Pretty nice numbers, but the secret sauce?

Real revenue, product-market fit, and models that actually funnel gains to token holders instead of fattening insiders.

Asymmetric upside

But hey, don’t think Hayes is ditching Bitcoin completely. No way. He’s still singing BTC’s praises as the all-time best performer of the money-printing era.

He’s eyeing a $700,000 Bitcoin by the end of this decade.

Yet, Hayes says the big asymmetric upside lies beyond Bitcoin, in the DeF sectori, ready to devour the tens of trillions he expects to flood into stablecoins and on-chain markets.

Money debasement

And about those impatient Bitcoiners? Hayes calls ‘em out. He’s telling them to chill and stop obsessing about stocks and gold hitting record highs.

Asking why isn’t Bitcoin $150K yet misses the whole point of crypto investment. His message?

If you bought BTC six months ago expecting a Lamborghini tomorrow, get ready to be liquidated. Patience is the game. Like any wise coach yelling on the sidelines, control your emotions, or you’re benched.

In the time of writing, Bitcoin is around $115K, gold’s chilling at record highs around $3,640 per ounce, and the S&P 500 keeps breaking records.

But Hayes isn’t impressed. He says Bitcoin’s narrative is about weathering money debasement storms, and that’s still the best game in town.