CONNECT recap: Arthur Hayes on money printing, Wall Street moves onchain

What happened

CONNECT recap: Arthur Hayes on money printing, Wall Street moves onchain, according to Cointelegraph. Arthur Hayes said money printing could lift crypto prices, while CONNECT Seoul speakers examined Wall Street’s competitive edge onchain. AI companies need trillions of dollars to finance data centers (a building full of computers that runs online services) even as the prices of their services fall, Hayes said at a fireside chat at CONNECT by Cointelegraph: Seoul Edition, on Tuesday during Korea Blockchain Week.

“They’ve not really given themselves a lot of options other than print money and make it less bad,” he said. Hayes also discussed a possible shift in China from what he called an “austerity lite” policy to substantial monetary stimulus, which he said could revive demand for scarce assets.

Related: AI credit bubble could fuel Bitcoin ‘crack-up boom’ past $1M: Hayes In Europe, he said he was monitoring financial stress in France, including credit-default swaps tied to BNP Paribas and French government bond spreads. Cointelegraph’s CONNECT event in Seoul featured panels on topics ranging from traditional finance’s shift onchain to stablecoins (a digital token meant to hold a fixed value, usually one dollar) and corporate crypto treasuries. For financial firms, serving existing clients is only part of the opportunity.