Hayes describes Bitcoin as a “global fiat liquidity fire alarm.” Among freely traded assets, he believes Bitcoin reacts fastest to shifts in fiat money supply and credit conditions. The recent decoupling from the Nasdaq 100 Index—after a long period of correlation—raises red flags in his framework. When historically aligned assets begin to move in opposite directions, Hayes suggests investors should investigate what underlying stress might be building within the financial system.

AI Job Losses and the Credit Risk Scenario

At the core of Hayes’ thesis is the accelerating wave of AI-related job cuts. In 2025 alone, companies reportedly attributed around 55,000 layoffs directly to artificial intelligence adoption—more than twelve times the figure recorded just two years earlier.

Hayes projects a more severe macro impact if this trend intensifies. He estimates that if 20% of the United States’ 72 million knowledge workers were displaced, the resulting losses in consumer credit and mortgage debt could reach approximately $557 billion. Such a shock would translate into roughly a 13% write-down of U.S. commercial bank equity. Regional banks, in particular, could face acute stress, triggering deposit flight and tightening credit markets.

Central Banks and the Return of Money Printing

In this scenario, Hayes believes the Federal Reserve would eventually be forced to respond with aggressive liquidity measures. An AI-driven financial shock, in his assessment, would reopen the monetary spigots.

He argues that renewed fiat credit expansion would likely propel Bitcoin sharply higher from depressed levels. Even the anticipation of expanded money supply, he suggests, could push Bitcoin toward a new all-time high. Hayes has also indicated that his firm, Maelstrom, would allocate capital to Zcash and Hyperliquid if the Fed pivots toward monetary easing.

A Pattern in Hayes’ Liquidity Thesis

This is not the first time Hayes has advanced a bold liquidity-driven forecast. Earlier, he suggested that money printing could emerge in response to a Japanese bond crisis, and he previously projected Bitcoin reaching $200,000 amid anticipated Fed liquidity programs.

While controversial, Hayes’ central argument remains consistent: as vulnerabilities within the fiat system intensify, Bitcoin may increasingly be viewed as an alternative store of value.

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What is ONFA (OFT)?

ONFA is a cryptocurrency wallet application designed to simplify the exchange of digital assets and fiat currencies, making crypto investing accessible to everyone. Its primary audience includes newcomers to crypto or those with limited trading experience. ONFA focuses on the following core offerings:

• Storing, sending/receiving digital assets, and supporting fiat currency transactions.

• Enabling payments, shopping, and spending directly from fiat within the wallet.

• Streamlined buying, selling, and portfolio management.

The ONFA ecosystem revolves around the OFT (Global ONFA Token), deployed on Binance Smart Chain and the proprietary ONFA chain. With a maximum supply of 500,000,000 OFT (burn-only, no additional issuance), its smart contracts have been rigorously audited by Certik.

Purpose of ONFA (OFT)

ONFA aims to create a secure, user-friendly platform for crypto investments, simplifying the conversion of digital assets to fiat and enabling broad participation. OFT serves as the ecosystem’s utility token, with users earning rewards through NFT mining. This process involves staking NFTs in a smart contract for up to 720 days, with daily rewards. Rewards halve every 50 million OFT mined, incentivizing early engagement and promoting sustainable growth.

How Does ONFA (OFT) Work?

ONFA leverages blockchain technology to ensure transparency and security. OFT mining begins when users stake NFTs in a smart contract, with rewards distributed daily after a 24-hour cycle. The reward structure halves every 50 million OFT mined, controlling inflation and fostering long-term stability. OFT is used across the ecosystem, and a burning policy allocates 20% of profits to repurchase and remove OFT from circulation (reported monthly on onfa.io starting December 2024).

Future Benefits:

• Monthly OFT buybacks and burns using 20% of profits until circulation is reduced to 50%.

• Enhanced OFT value for long-term investors.

ONFA (OFT) Use Cases

ONFA serves as a crypto wallet with the following applications:

• Storing, sending/receiving digital assets, and fiat transactions.

• Facilitating payments, shopping, and spending with fiat from the wallet.

• Simplified buying, selling, and portfolio management.

• Earning rewards through NFT staking and OFT mining.

Usage Steps:

1. Download the ONFA app and set up a wallet.

2. Deposit digital assets or fiat.

3. Stake NFTs to start OFT mining.

4. Claim daily rewards.

Advantages of ONFA (OFT)

• Security: Advanced encryption and multi-layer authentication.

• User-Friendly: Intuitive interface for beginners.

• Yield: Passive income through OFT mining.

• Global Access: Available worldwide.

ONFA (OFT) Tokenomics

Total Supply: 500,000,000 OFT.

• Allocation:

  • Mining: 40% (200,000,000, fully unlocked)

  • Private Sale: 5% (25,000,000, vesting from January 2025)

  • Strategic Partnerships: 10% (50,000,000, vesting from April 2026)

  • ONFA Founding Team: 20% (100,000,000, vesting 1% quarterly from January 2027)

  • Liquidity: 10% (50,000,000, unlocked as needed)

  • Broker Allocation, VIP Accounts: 5% (25,000,000, fully unlocked)

  • DeFi ONFA Ecosystem: 10% (50,000,000, unlocked as needed)

Burning Policy: 20% of monthly profits used for OFT buybacks and burns until circulation reaches 50%.

ONFA (OFT) Team

The ONFA team envisions a world where everyone, regardless of background or status, can shape their financial future. Leveraging cutting-edge technology, ONFA delivers secure, accessible digital investment tools, dismantling barriers to investment. Built on a smartphone-based platform, ONFA ensures convenience, safety, and ease of use, driving financial democratization. Led by two founders and a dedicated team, ONFA is more than a platform—it’s a beacon of innovation, equality, and opportunity, aiming to lead a global financial transformation.

Official Links

• Website
• X (Twitter)
• Whitepaper

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Significant Ethereum Transfers Over the Past Three Months

When viewed alongside his recent activity, Wilcke’s latest transaction becomes even more noteworthy. Three months ago, he moved 105,737 ETH into eight newly created wallets. He currently holds 95,897 ETH, valued at around $401.6 million.

These figures highlight that Wilcke still maintains a significant presence in the Ethereum ecosystem, and his actions remain closely watched by the market.

Possible Reasons Behind the Transfer

Wilcke’s sizable ETH deposit to Kraken could be driven by several factors:

• Selling for fiat currency or other assets (in line with his previous divestment history)

• Portfolio rebalancing or diversification

• Using Kraken’s services such as staking or lending

• Funding personal projects or meeting private needs

Potential Market Impact

Given ETH’s high liquidity, this transaction is unlikely to have a major immediate effect on its price. However, large-scale moves by a co-founder always draw investor attention and can trigger short-term psychological impacts on Ethereum price movements.

Wilcke’s actions in the coming days may reveal the true purpose behind this transfer. In the crypto market, moves by major players are always under the spotlight, and this development will remain on investors’ radar.

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In an October 29 announcement, Visa stated that “Coinbase already has millions of users with a debit card connected to their account.” Additionally, Visa highlighted that users in the United States and the European Union will have “real-time access to account funds” when using an eligible Visa debit card.

Thanks to Visa’s extensive acceptance network, Coinbase customers can spend their crypto instantly without needing an additional conversion process. This move is seen as an essential innovation to boost the liquidity and widespread adoption of crypto assets. While Coinbase’s CEO emphasized that this development is a significant step toward bringing crypto into daily transactions, Visa also reinforced its commitment to advancing financial technology solutions.

Visa has long supported Coinbase’s crypto debit cards, allowing users to spend their crypto assets across Visa’s network. On October 28, the payments and card industry giant signed a similar agreement with FV Bank. This partnership will enable users to fund a bank card with both crypto and cash. Such agreements are part of Visa‘s strategy to make cryptocurrencies accessible for everyday transactions.

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This decision comes after a period in which Binance, which also had to end its collaboration with PaySafe in September, began to search for new banking business partners to deal with regulatory difficulties and financing issues in the European Union. Binance indicated that users have already started to switch to services offered by a “range of new regulated and authorized fiat transaction partners”. However, it did not provide detailed information about the companies it collaborated with.

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Binance’s UK Fiat Transaction Woes

In the announcement, it was stated that the fiat services offered by the new partners included EUR deposit and withdrawal transactions through Open Banking and SEPA/SEPA Instant.

Users can buy and sell cryptocurrencies using SEPA (Single Euro Payment Area), bank cards, and fiat balances and can trade with EUR spot pairs. At the end of September, Binance had suggested its European users to convert their euros to Tether by the end of October. However, the latest announcement may show that this process is no longer necessary.

However, even after the announcement, some users continued to have problems depositing euros, while others started asking questions about fiat transaction partners for the British pound in the UK. In May, due to concerns of the UK financial regulators about the partnership, Paysafe withdrew support for transactions in British pounds.

On October 16th, Binance temporarily suspended access to the exchange for new users based in the United Kingdom. This move came after the termination of a partnership with a third party to fulfill the requirement of the country’s financial regulatory body, the Financial Conduct Authority (FCA), to approve communications on its platform.

For now, Binance has not yet established fiat transaction partnerships for the UK exchange, where its users in the UK cannot deposit British pounds.

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Surging Crypto Investment Among Turkish Adults

The survey reveals a remarkable surge in crypto investment among Turkish adults, with more than half of the population now participating in the crypto market. Over the last 18 months, the percentage of crypto investors in the Turkish population aged 18 to 60 has risen significantly, climbing from 40% in November 2021 to an impressive 52% in May 2023, despite market fluctuations. This signifies a growing interest in and acceptance of cryptocurrencies as a hedge against the devaluation of the Turkish lira, which has lost over 50% of its value against the US dollar.

Source: https://www.kucoin.com/blog

Demographic Shifts in Crypto Investors

While Turkish male investors still dominate the crypto space in Turkey, accounting for 57% of the total, there’s a noticeable trend of increasing female participation, especially among younger generations. Nearly half (47%) of crypto investors aged 18 to 30 are female, suggesting a narrowing gender gap in crypto adoption. In contrast, female crypto investors over the age of 45 represent only 37% of the total.

Source: https://www.kucoin.com/blog

Influence of Young Generations and Personal Connections

Younger generations are the driving force behind the growth of crypto investors in Turkey. The majority comprises individuals aged 31 to 44, accounting for 48%, with investors aged 18 to 30 closely following at 37%. The survey highlights the impact of young people, with 31% of all crypto investors making their initial crypto investments in the last three months and 54% of investors under 30 joining the market in the past year.

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Moreover, personal connections, such as those with friends and family, play a pivotal role in introducing new investors to cryptocurrencies. A substantial 57% of participants learned about crypto through their social circles. Additionally, communities and online platforms provide vital support for crypto adoption, with 35% of respondents indicating their involvement in crypto-related communities. Social media influencers, especially on platforms like YouTube (41%), Twitter (34%), Telegram (29%), and Instagram (19%), also contribute significantly to crypto awareness, particularly among the younger generation.

Johnny Lyu, CEO of KuCoin, expressed his enthusiasm about the report, emphasizing its contribution to understanding the dynamic crypto community in Turkey. The aim is to foster responsible crypto adoption and usage while contributing to the global crypto community’s collective knowledge.

For access to the full report, titled “Into the Cryptoverse: Understanding Crypto Users in Turkey,” click here.

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