BitMEX co-founder and former CEO Arthur Hayes has returned from exile with a post on the derivatives exchange’s official blog calling for a boycott of legacy platforms following the GameStop drama.
Hayes said the incident, where trading on Robinhood was halted after retail traders forced a short squeeze causing hedge funds to suffer billions in losses, showed that markets are stacked against retail traders:
“The game masters just didn’t like how the game was being played, so they jacked up margin to force a course correction,” he said.
The former BitMEX CEO urged retail traders trader to “opt-out” of the legacy financial system in favor of “Crypto Capital Markets”:
“Withdraw all your money from your broker. Stop trading. Stop paying the system that you believe treats you like a second-class citizen. That is opting out, and it is extremely powerful and liberating.”
The post follows months of silence from Hayes — who went to ground last year