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Hayes, who co-founded the exchange BitMex, noted that most markets currently open and close, remain shut on weekends, and some even have lunch breaks. Cryptocurrencies on the other hand trade 24 hours a day, seven days a week.
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Hayes did say crypto is “definitely not” a threat to sovereign currencies, and actually would make things “better for governments because they can track things better in their native currencies, which they can’t do with physical cash.” Facebook has been confronted with push back from politicians and regulators in the U.S. to France to Germany on its plan to launch a centeralized coin by the first half of next year.
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