Hayes on the reverse yen carry trade: It's a controlled unwind, not a global crash. Japan will bring capital home. The U.S. backstops the selling with FIMA repo and extra dollar liquidity so Treasuries do not get dumped into a fire sale. Markets still move hard, yen up, crowded carry and U.S. tech relatively weaker, gold and crypto stronger, but the official aim is a managed rotation of what gets funded, not a 2008-style break. 📺

Arthur Hayes(@CryptoHayes) dumped another 14M $ENA ($2.73M) 2 hours ago. Over the past 24 hours, he has sold $28.8M worth of tokens, making $6.65M in profit. Most of his profits came from $ETH and $ENA, while he roughly broke even on $UNI, $ETHFI, $AERO, $PENDLE, and $ZAMA.

Arthur Hayes: Hyperliquid Still Leads Perp DEXs, but Risk-Reward Has Changed Flop Labs CEO Arthur Hayes @CryptoHayes said in a September 30 interview with @BitcoinNews at KBW 2026 that Hyperliquid remains the best perp DEX, but its risk-reward is no longer as attractive as it was earlier.Hayes said he bought HYPE at around $30 and sold near $75. Even after the token later fell back into the $50, he did not see an attractive enough opportunity to re-enter. In his view, Hyperliquid still leads on liquidity, brand recognition and tokenomics, but growing competition has changed the risk-reward profile. WuBlockchain note: Arthur Hayes has a relatively poor historical track record on market forecasts and frequently adjusts his views. His analytical framework may be more useful to follow than his specific price targets or timing calls.