Trading the Merge | Arthur Hayes

This episode has been a long time coming. Arthur Hayes is the crypto trader of traders, and he's particularly bullish on the ETH trade.
Sep 7, 20221 min read

We've been binging Arthur's writing lately, trying to get inside his head about how he approaches the markets.

Discussing the inevitability of inflation, the chaotic macro picture, and of course the Ethereum Merge, we piece together the mindset of a trader who has survived the massacre of 2022.


0:00 Arthur Hayes

6:30 Arthur’s Prolific Writing

12:55 Why Arthur is a Trader

19:10 What’s Causing Inflation?

26:00 The Only Solution

30:11 Structural Inflation

38:09 The Macro Landscape

44:24 Why Crypto?

50:44 Denominate in Hydrocarbons

58:30 The Ethereum Merge

1:02:30 Is the Merge Priced In?

1:04:30 Crypto Markets

1:06:47 Target ETH Prices

1:08:20 What’s Different?

1:11:58 Making the ETH Trade

1:15:45 Merge vs Macro

1:18:26 DeFi and Arthur’s Conversion

1:22:15 The 2022 Retail Massacre

1:24:30 Surviving as a Trader

1:27:50 Arthur IRL


Arthur on Twitter:


Arthur's Blog:




A Samurai, a Knight, and a Yankee:


Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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