Arthur Hayes, co-founder of BitMEX, shared insights into his early experiences in the cryptocurrency industry during an interview with Natalie Brunell. In the fall of 2013, Hayes capitalized on the Mt. Gox withdrawal crisis by engaging in Bitcoin arbitrage between mainland China and Hong Kong. However, he soon realized that short-term trading without a technical background was unsustainable. To establish a foothold in the crypto sector, Hayes leveraged his expertise in derivatives trading. In 2014, he partnered with Ben Delo and Sam Reed to create BitMEX, a derivatives exchange, strategically avoiding the crowded spot market.