According to BlockBeats, on August 22, BitMEX co-founder Arthur Hayes expressed his views on the impact of Powell's interest rate policy on the crypto market while participating in the Crypto Banter podcast, with the following key points:
1. I don't think Powell has to do anything. Personally, I wouldn't trade based on the assumption of 'the Federal Reserve cutting rates by 50 basis points'. If Powell insists on not cutting rates, the government will definitely find a way to 'squeeze out liquidity'.
2. The market could very well repeat the situation of 2022—expectations for interest rate cuts, but Powell suddenly delivers a 'hawkish punch', resulting in a market crash.
3. If Powell gives a hawkish speech at Jackson Hole, ETH may first test $4000.
Regarding stablecoins, Arthur Hayes stated that people's imagination about stablecoins is not big enough. U.S. Treasury Secretary Yellen will use stablecoins to reverse the trend of 'de-dollarization'—that is, bringing global offshore dollar flows back to the U.S., while providing banking services to so-called 'global south countries' (developing countries mainly located in Asia, Africa, and Latin America), even if local regulations do not allow it.
