Arthur Hayes' Maelstrom Fund Hits Maximum Risk for 2026 Crypto Surge

Arthur Hayes' investment fund, Maelstrom, is starting 2026 with what Hayes calls an "almost maximum risk" exposure. The fund has pivoted away from stablecoins, doubling down on risk assets like Bitcoin and emerging DeFi tokens to catch a predicted liquidity wave.

Arthur Hayes Maelstrom Crypto Strategy 2026: Betting on the Money Printer

Hayes is betting that U.S. deficit spending and potential Federal Reserve money printing will act as a primary catalyst for crypto prices. In a recent essay, he highlighted a shift toward privacy coins like Zcash (ZEC), currently trading at $522.65, and decentralized finance (DeFi) tokens. He argues that this credit-driven economy will reward high-conviction plays in lesser-known assets.

Reviewing 2025: From Caution to 'Backing Up the Truck'

The fund's 2025 performance was profitable but uneven. While assets like BTC, HYPE, and PENDLE delivered strong returns, Hayes admitted to costly missteps in other tokens. A pivotal moment occurred in April 2025, when Bitcoin dipped below $85,000, prompting Maelstrom to go "maximum long." By early 2026, this aggressive stance has only intensified.