Arthur Hais: New Steabelcoins will not be successful

The founder of the BitMEX cryptoderivat exchange, Arthur Hayes, predicts that the new companies developing stablecoins and are trying to enter the stock market are doomed to failure.

Heis noted that the company producing stabilcoins strive to follow the example of Circle, the USDC token issuer, who in early June placed his shares on the New York Stock Exchange. According to Hais, the primary placement of shares (IPO) Circle marks the beginning of “stable -mania”, however, most new public crypto companies can be overestimated.

“A new wave of companies that launch stablecoins that will bargain on stock exchanges will only become the imitators of Circle. Therefore, investors should trade them like hot potatoes. This bubble will burst and separate the fools from capital by tens of billions of dollars, using a mixture of financial engineering, credit shoulder and show, ”Hais said.

At the same time, Hayes did not advise traders to take a short position on shares of such companies, since the US loyal policy regarding cryptocurrencies and the emergence of more clear rules for regulating stablecoins will initially raise the prices of shares.

Heis explained that each issuer of stabilcoins should think about how he will spread his product. He allocated only three effective ways: cryptocurrencies, social networks and traditional banks. However, all of them are already actively used by existing players, so the new participants will have to pay large commissions for exchanges, and social networks and banks will create their own stabilcoins, Hayes explained.

In May, Arthur Hais doubted that the United States could create a public supply in bitcoins. Later, the founder of BitMex said that the Ethereum blockchain is able to surpass the SOLANA network in performance.

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