While the tech-heavy Nasdaq was down nearly 4% last week, crypto appears to be getting hit even harder.
Hayes said he is buying puts on cryptocurrencies, which he expects to crash in June 2022.
In February, he and his co-founder Benjamin Delo pleaded guilty to charges they failed to implement basic anti-money laundering controls on their platform.
“Justified or not, the market lumps crypto and big tech in the same cesspool,” Hayes says.
chief economist Jan Hatzius said the Federal Reserve may need to raise interest rates to 4% as inflation continues to hit new highs.