Arthur Hayes Sees Crypto Bull Run Lasting Until 2028 — Warns of Rising US Stablecoin Power

Jakarta, Pintu News – Former BitMEX CEO, Arthur Hayes, predicts that the current crypto bull market will last until 2028. This prediction is based on the US government’s strategic move to encourage global dollar flows to be diverted through stablecoins.

US government aims for control over Eurodollar market

Reporting from BeInCrypto, at the WebX conference in Tokyo on August 25, Arthur Hayes explained that America’s massive fiscal deficit is driving the country’s stablecoin policy ambitions, which he said in the opening session.

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Hayes predicts that the US is trying to steer the $10-13 trillion Eurodollar market into a government-controlled stablecoin ecosystem.

The Minister of Finance, Scott Bessent, is said to be pressuring countries around the world to adopt US stablecoins. This diplomatic approach is similar to any currency expansion strategy in history.

Stablecoins give Washington unprecedented control over offshore dollar deposits that were previously beyond the reach of US oversight. Issuers of stablecoins are required to keep reserves in American banks and purchase Treasury bonds with the funds received.

This mechanism provides the government with a secure debt buyer while allowing control over monetary policy.

Hayes explains that through this system, Bessent can bypass the Federal Reserve’s role to influence short-term interest rates.

He estimates that the supply of stablecoins could reach $10 trillion when the Fed funds rate drops to 2%. He believes this will sustain the bullish cycle until 2028.

DeFi Platform Ready to Absorb Large Fund Flows

Arthur Hayes highlights four promising DeFi projects: Ethena (ENA), Hyperliquid (HYPE), Ether.Fi (ETHFI), and Codex. According to him, these platforms will offer yield opportunities that are not available in the traditional banking system.

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The massive liquidity of stablecoins will open up new investment possibilities in the decentralized finance ecosystem.

Hayes also predicts that social media platforms such as Facebook and X will provide dollar-based accounts to countries in the Global South. This development has the potential to create additional demand for $4 trillion worth of US government bonds (Treasuries), while weakening national currency controls.

He described this transformation as a “once-in-a-century market opportunity”, comparable to the John Rockefeller era.

Furthermore, Hayes advises investors to keep an eye on capital flows from centralized exchanges towards decentralized platforms. He believes that the expansion of the stablecoin ecosystem will enable innovative financial services that were previously impossible within the traditional banking framework.

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Reference:

• BeInCrypto. Arthur Hayes Predicts Bull Cycle Until 2028: Watch US Stablecoin. Accessed on August 25, 2025