Arthur Hayes Warning About USDC & Wall Street’s Stablecoin Focus

Arthur Hayes, co-founder of BitMEX, publicly warned that bank-backed stablecoins would “outcompete” Circle’s USDC. On May 23, 2025, he posted on X (formerly Twitter), “Bye bye Circle. Thanks for playing,” in response to media reports of Wall Street’s biggest banks planning a joint stablecoin source: https://www.thecoinrepublic.com/2025/05/23/arthur-hayes-warning-about-usdc-wall-streets-stablecoin-focus/