Traders Could Lose Weekends in Digital Age, BitMex’s Hayes Says
Arthur Hayes, head of one of the world’s most popular cryptocurrency exchanges, says traders may lose their midday breaks and even their weekends as traditional assets absorb some characteristics of digital ones.
Digital finance is going to end up affecting everything from traditional equities, bond and currency trading, to the way payments are processed and recorded, Hayes, the chief executive of BitMex, said in remarks at the Milken Institute Asia Summit in Singapore. Hayes, who co-founded the exchange, noted that most markets currently open and close, remain shut on weekends, and some even have lunch breaks. Cryptocurrencies trade 24 hours a day, seven days a week.