BitMEX co-founder and crypto veteran Arthur Hayes is proposing an idea for a new Bitcoin (BTC)-backed stablecoin. In a new blog post, Hayes tells his 67,000 followers that the collapse of crypto-friendly bank Silvergate suggests that there’s a need for a token that is worth $1 but doesn’t rely on the traditional banking system. “The The post BitMEX Founder Arthur Hayes Proposes New Bitcoin-Backed Stablecoin – Here’s How It Works appeared first on The Daily Hodl .
