Arthur Hayes considers dedollarization a chance for cryptocurrencies. Could the US dollar lose its status as the world's reserve currency? Co-founder of the BitMEX cryptocurrency exchange Arthur Hayes does not exclude this possibility and believes that this issue is worth considering for those who want to preserve their wealth. He published an article in which he analyzed the state of the economy and the position of the dollar on the world stage, and also studied how to reduce its role may impact cryptocurrency adoption on a global scale. In an article titled “Exit Liquidity,” Hayes explained that the dollar's global dominance is supported by the U.S.'s open capital account and commitment to free trade. This creates additional demand for their currency as Asian countries buy American assets with dollars, and Americans, in turn, buy cheap goods from Asia. Being the issuer of the world reserve currency also means that the Federal Reserve and the US Treasury are responsible for maintaining the integrity of world economy. In other words, when the world economy needs more dollars, the United States should provide them, even if it increases inflationary pressure on the domestic economy.Over the past few months, a number of global trade corridors have expressed interest in moving away from dollar settlements. For example, last month Chinese and French energy companies agreed to negotiate a liquefied natural gas deal in yuan rather than US dollars. China entered into a trade agreement with Brazil under these same terms. As Hayes explained, being so dependent on the dollar means that countries like China have to adopt the monetary policies of the United States and also face similar political risks. Although While the United States has long been considered a reliable and politically stable country, the BitMEX co-founder argues that the arrest of former US President Donald Trump earlier this month suggests that everything has changed. Hayes also believes that the future will see multiple currency unions and no a currency “hegemon” similar to today’s US dollar. The imbalance between these unions will be managed through “neutral reserve currencies” such as gold and cryptocurrencies, which are “not tied to any specific country.”