BitMEX co-founder Arthur Hayes recently delivered a blunt message to the crypto community via X: projects lacking revenue and real-world clients are essentially "shit coins" in the current market. Hayes emphasized a shift towards fundamentals. He argues that the era of hype and speculation is waning, replaced by a need for tangible value. Projects must generate actual revenue to be considered viable. Specifically, Hayes believes this revenue should be channeled back into the project and its token holders through buyback and burn mechanisms. This reduces the token supply, potentially increasing its value and rewarding long-term investors. This comment reflects growing concerns about the long-term sustainability of many cryptocurrency projects. Hayes' statement underscores the importance of due diligence and focusing on projects with a clear path to profitability and real-world adoption. ```