Arthur Hayes Sounds Alarm on Emerging ‘Stablecoin Mania,’ Warns of Potential Repeat of Terra Luna’s $40,000,000,000 Collapse

BitMEX co-founder Arthur Hayes says Circle’s successful initial public offering (IPO) may have ignited the next major bubble in the crypto market. In a new blog post, Hayes warns that Circle’s stock market debut has marked the beginning of a “stablecoin mania” that he thinks will fleece investors who get caught up in the hype. source: https://dailyhodl.com/2025/06/18/arthur-hayes-sounds-alarm-on-emerging-stablecoin-mania-warns-of-potential-repeat-of-terra-lunas-40000000000-collapse/