BitMEX Founder Questions Viability of Trump’s Crypto Reserve Proposal

Arthur Hayes, the co-founder of BitMEX, has voiced his doubts about U.S. President Donald Trump’s recent proposal for a national cryptocurrency reserve. 

In a blunt response to Trump’s announcement, Hayes dismissed it as mere “words” and questioned its practicality, especially without the necessary financial backing.

He pointed out that for such a reserve to be effective, it would require congressional approval to access funds, something Trump has yet to secure.

Despite the initial market excitement following Trump’s suggestion that Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA) might be part of the reserve, Hayes remains unphased.

While he maintains a long-term positive outlook on cryptocurrencies, he made it clear that he would not be adding to his holdings for now.

In contrast, Binance’s Changpeng Zhao (CZ) took a more hopeful view, suggesting that additional valuable assets could be incorporated into the reserve in the future, encouraging the community to stay optimistic.