Arthur Hayes has consistently refused to fade into obscurity. After co-founding BitMEX and playing a crucial role in the evolution of the crypto derivatives market, he has resurfaced in recent years as one of the most influential macro thinkers in the sector. Now CIO of Maelstrom, Hayes has shifted his focus from building exchanges to engaging in thesis-driven investing—while adding a touch of social media provocation.
This feature is part of CoinDesk’s Most Influential 2025 list.
Few crypto executives possess a social media presence as dynamic, chaotic, and surprisingly insightful as Hayes’. His X feed oscillates between in-depth macro analysis, bold market predictions, literary allusions, and sporadic troll-like comments.
However, this theatricality conceals a noteworthy track record that traders can’t ignore. Hayes was ahead of the curve with several AI-related tokens—a sector that attracted substantial speculative activity throughout 2024 and 2025—and he was an outspoken advocate for Zcash , which subsequently surged over 450% in the past year.
At Maelstrom, he has further embraced his role as provocateur and strategist. Hayes combines long-term geopolitical insights with short-term market intuition, frequently asserting that the future of crypto will be influenced by AI infrastructure, privacy-centric technologies, and governmental monetary experiments. His essays, infused with irreverence and dark humor, solidify a persona that is a mix of professor, trader, and chaos agent.
In an industry characterized by rapid turnover of prominent figures, Hayes remains remarkably resilient. Though he no longer manages a major exchange, his work at Maelstrom—and his provocative social commentary—keeps him one of the most significant voices in the crypto world.
