Uploaded August 2026 | Updated September 2026, 3 weeks ago
Arthur Hayes unveils Flop, a new protocol for AI compute, and makes the case for why Bitcoin is entering a fresh liquidity-driven leg up.
🔥 EPISODE LINK 🔥
unchainedcrypto.com/arthur-hayes-on-why-ai-agents-will-want-to-transact-in-units-of-compute
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Bitcoin has been pumping in its sharpest move since March, after the US Treasury said it would double its long-end bond buybacks, and traders liquidated $1.44 billion in short positions within hours.
Arthur Hayes, CEO of Flop Labs and CIO of Maelstrom, joins Laura Shin to argue the rally is proof the Treasury and the Fed are already running what he calls soft yield curve control, defending the 10-year near 5% by funding long-end purchases with short-term bill issuance instead of admitting real yields cannot rise.
Hayes reiterates his year-end $5,000 target for ETH, traces how Japan's yen crisis could force the Fed's hand, and argues the AI CapEx boom is a real estate bet on depreciating chips that ends like subprime did.
He also unveils Flop, his currency for AI agents, and why he is taking on a new CEO role after an already successful career. He also weighs in on Saylor's $218 million Bitcoin sale and reflects on his and his cofounders’ decision to shut BitMEX down.
Host:
👉 Laura Shin - Founder, CEO and Host of Unchained - https://x.com/laurashin
Guest:
👉 Arthur Hayes - CEO of Flop Labs and CIO of Maelstrom - https://x.com/CryptoHayes
→ Web - cryptohayes.com
→ Substack - cryptohayes.substack.com
→ LinkedIn - linkedin.com/in/arthur-hayes-b493b42
→ Instagram - instagram.com/cryptohayes
Timestamps:
🏛️ 00:47 Why Arthur says the Treasury's buyback move is 'soft yield curve control'
📈 04:14 Why ETH is Maelstrom's largest position outside Bitcoin
🇯🇵 07:02 The yen quake: how Japan's repatriation could force the Fed's hand
📣 13:41 Visit 1inch to swap tokenized securities, crypto and more at unchainedcrypto.com/go/1inch-yt
🤖 13:58 Why Arthur calls the AI boom 'just another boring real estate play'
💽 22:29 Inside Flop: Arthur's new currency for paying AI agents to compute
⚙️ 29:34 How Flop's miners and validators actually work
🪙 41:16 Flop's halving schedule and why Flop Labs only takes a cut for two years
📉 45:45 Why Arthur says don't buy MicroStrategy anymore
🔌 48:37 Why Arthur shut down BitMEX on his own terms
_______________________________________________________
#bitcoin #ethereum #crypto #cryptocurrencies
_______________________________________________________
Subscribe to our channel!
Website → unchainedcrypto.com
Unchained Daily Newsletter (FREE!)→ unchainedcrypto.beehiiv.com/subscribe
Unchained X → https://x.com/unchained_pod
Apple → podcasts.apple.com/us/podcast/id1123922160?ls=1
Spotify → open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w
RSS Feed → https://feeds.megaphone.fm/LSHML4761942757
Unchained: Your no-hype resource for all things crypto!
Arthur Hayes unveils Flop, a new protocol for AI compute, and makes the case for why Bitcoin is entering a fresh liquidity-driven leg up.
🔥 EPISODE LINK 🔥
unchainedcrypto.com/arthur-hayes-on-why-ai-agents-will-want-to-transact-in-units-of-compute
========================================================================
Thank you to our sponsor!
👉 Visit 1inch to swap tokenized securities, crypto and more. Simple. Secure. Self-custodial. Whatever asset you’re buying - swap it at unchainedcrypto.com/go/1inch-yt
========================================================================
Bitcoin has been pumping in its sharpest move since March, after the US Treasury said it would double its long-end bond buybacks, and traders liquidated $1.44 billion in short positions within hours.
Arthur Hayes, CEO of Flop Labs and CIO of Maelstrom, joins Laura Shin to argue the rally is proof the Treasury and the Fed are already running what he calls soft yield curve control, defending the 10-year near 5% by funding long-end purchases with short-term bill issuance instead of admitting real yields cannot rise.
Hayes reiterates his year-end $5,000 target for ETH, traces how Japan's yen crisis could force the Fed's hand, and argues the AI CapEx boom is a real estate bet on depreciating chips that ends like subprime did.
He also unveils Flop, his currency for AI agents, and why he is taking on a new CEO role after an already successful career. He also weighs in on Saylor's $218 million Bitcoin sale and reflects on his and his cofounders’ decision to shut BitMEX down.
Host:
👉 Laura Shin - Founder, CEO and Host of Unchained - https://x.com/laurashin
Guest:
👉 Arthur Hayes - CEO of Flop Labs and CIO of Maelstrom - https://x.com/CryptoHayes
→ Web - cryptohayes.com
→ Substack - cryptohayes.substack.com
→ LinkedIn - linkedin.com/in/arthur-hayes-b493b42
→ Instagram - instagram.com/cryptohayes
Timestamps:
🏛️ 00:47 Why Arthur says the Treasury's buyback move is 'soft yield curve control'
📈 04:14 Why ETH is Maelstrom's largest position outside Bitcoin
🇯🇵 07:02 The yen quake: how Japan's repatriation could force the Fed's hand
📣 13:41 Visit 1inch to swap tokenized securities, crypto and more at unchainedcrypto.com/go/1inch-yt
🤖 13:58 Why Arthur calls the AI boom 'just another boring real estate play'
💽 22:29 Inside Flop: Arthur's new currency for paying AI agents to compute
⚙️ 29:34 How Flop's miners and validators actually work
🪙 41:16 Flop's halving schedule and why Flop Labs only takes a cut for two years
📉 45:45 Why Arthur says don't buy MicroStrategy anymore
🔌 48:37 Why Arthur shut down BitMEX on his own terms
_______________________________________________________
#bitcoin #ethereum #crypto #cryptocurrencies
_______________________________________________________
Subscribe to our channel!
Website → unchainedcrypto.com
Unchained Daily Newsletter (FREE!)→ unchainedcrypto.beehiiv.com/subscribe
Unchained X → https://x.com/unchained_pod
Apple → podcasts.apple.com/us/podcast/id1123922160?ls=1
Spotify → open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w
RSS Feed → https://feeds.megaphone.fm/LSHML4761942757
Unchained: Your no-hype resource for all things crypto!
