Arthur Hayes, co-founder of BitMEX, told attendees at the CONNECT Seoul conference that continued money printing by central banks could serve as a powerful tailwind for crypto prices, while a panel of industry speakers debated how Wall Street firms are positioning themselves to capture value as traditional finance migrates onchain.
Hayes Bets on Liquidity
Hayes reiterated his long-held thesis that expansionary monetary policy remains the dominant force driving asset prices higher, including Bitcoin and the broader crypto market. In his view, when governments and central banks flood the system with liquidity, hard assets and scarce digital tokens tend to benefit as investors seek refuge from currency debasement.
The BitMEX co-founder has built much of his market commentary around the relationship between central bank balance sheets and speculative asset performance. His remarks at CONNECT Seoul fit squarely within that framework, suggesting he expects fiscal and monetary conditions to remain supportive for risk assets over the coming cycle.
When the money printers run, Hayes argues, crypto is among the biggest beneficiaries.
Wall Street Moves Onchain
Beyond Hayes' macro outlook, the conference turned its attention to the growing presence of traditional financial institutions in the blockchain space. Speakers examined how established Wall Street players are leveraging their existing advantages — deep capital, regulatory relationships, and institutional client bases — as they build out onchain products and services.
The discussion highlighted a shift in the industry narrative, where legacy finance is no longer viewed solely as a competitor to decentralized systems but increasingly as a participant seeking to integrate blockchain infrastructure into its operations. Tokenization of real-world assets and onchain settlement were among the themes raised.
Several panelists weighed whether incumbent firms or crypto-native companies are better positioned to dominate the next phase of adoption. The key factors shaping that competition included:
- Access to large pools of institutional capital
- Established compliance and regulatory expertise
- Technical capacity to deploy and scale onchain systems
The CONNECT Seoul event underscored the convergence of macroeconomic forces and institutional adoption as twin drivers shaping crypto's trajectory, with speakers broadly agreeing that the boundary between traditional finance and blockchain continues to blur.