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Arthur Hayes says equity price discovery will shift to 24/7 crypto perpetual markets

Arthur Hayes predicts equity price discovery will migrate to 24/7 crypto perpetuals, pressuring traditional exchanges as regulation turns more crypto-friendly. Summary Hayes argues BitMEX-style perpetual swaps concentrate liquidity, offer high leverage and limited legal recourse, making them superior to dated futures.​ He cites Hyperliquid’s HIP-3 and a Nasdaq 100 perpetual [...]

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