Arthur Hayes: If the Fed expands its balance sheet to intervene in the yen and Japanese government bonds, it will benefit Bitcoin and other risk assets. BitMEX co-founder @CryptoHayes shared an in-depth analysis in his latest article about the recent depreciation of the yen and the drop in Japanese government bond prices, which have triggered global market 'anomalies.' He believes this signals that the Fed and the Treasury may soon join forces to directly intervene in the yen and Japanese government bond markets through 'money printing,' injecting new liquidity into the global fiat currency system. He has closed positions in leveraged Bitcoin-related assets like Strategy and Metaplanet, stating that if his judgment proves correct, he will re-enter the market. In the meantime, his fund Maelstrom continues to increase its holdings in Zcash, while maintaining positions in other high-quality DeFi tokens. He mentioned that if the Fed does indeed expand its balance sheet to intervene in the forex and bond markets, he will increase holdings in DeFi assets such as ENA, ETHFI, PENDLE, and LDO.