TradFi and DeFi markets are in motion, responding to Trump’s tariffs, but a giant injection of liquidity could be on the way.Maelstrom CIO Arthur Hayes provides his expertise on economic policy, macro movements, and political implications, delving into a variety of topics, including:Trump’s rationale for tariffsThe possibility of a “fiat liquidity bonanza” and what it means for cryptoWhat the Hyperliquid brouhaha reveals about decentralization dreamsHow Ethena might be an attack on EthereumThe value prop of Circle’s IPOFuture price expectations for BTC, ETH, and SOLVisit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.comThank you to our sponsors!BitwiseHRFGuest:Arthur Hayes, CIO of MaelstromPrevious appearances on Unchained:How Arthur Hayes Has Prepared His Portfolio for the ElectionsLinksPrevious coverage on Unchained:Trump Tariffs Sink Crypto, BlackRock Pumps Bitcoin’s BagsWhy Trump-Induced Stagflation Could Finally Make Bitcoin a Safe HavenTariffs, Hyperliquid, and $1 million BitcoinArthur Hayes on X: Tariffs = money printer goes brrrrArthur Hayes on X: Is Trump trying to trigger a mini financial crisis?Arthur Hayes on X: CZ and Star ‘gang up’ on HyperLiquidKevin Zhou on X: Binance and OKX listing $JELLY sets a precedentDL News: Arthur Hayes on the one reason that tariffs can’t stop Bitcoin’s surgeTrump pardon:CFTC.gov: Federal Court Orders BitMEX’s Three Co-Founders to Pay a Total of $30 Million for Illegally Operating a Cryptocurrency Derivatives Trading Platform and Anti-Money Laundering Violations | CFTC (May 2022)Justice.gov: Southern District of New York | Global Cryptocurrency Exchange BitMEX Fined $100 Million For Violating Bank Secrecy Act | United States Department of Justice (Jan 2025) CNBC: Politics Trump pardons three BitMEX crypto exchange co-founders, and ex-employee Timestamps:👋😰 💲 🫤 💥 💪 ⚖️ 👀 🤼‍♀️ 😬 🤔 📈 Learn more about your ad choices. Visit megaphone.fm/adchoices