Arthur Hayes
Co-founder of BitMEX, macro essayist
Pleaded guilty to a US Bank Secrecy Act violation in 2022 (probation and fine); pardoned in March 2025.
Arthur Hayes BitMEX and popularized the perpetual swap, and is now one of crypto's most-read macro writers.
Who they are
Arthur Hayes is a former Citi and Deutsche Bank derivatives trader who co-founded the BitMEX exchange in 2014. BitMEX popularized the perpetual swap, now the dominant trading instrument in crypto.
History
Hayes pleaded guilty to a Bank Secrecy Act violation in 2022, receiving probation and a fine, and was later pardoned in March 2025. Today he is best known as a prolific macro essayist whose long blog posts tie global liquidity to crypto prices, and as chief investment officer of his Maelstrom fund.
Notes
- Co-founded BitMEX in 2014 and helped popularize the perpetual swap.
- Pleaded guilty to a Bank Secrecy Act violation in 2022; pardoned in 2025.
- Writes widely-read macro essays and runs the Maelstrom fund.
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Official links
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