Arthur Hayes, BitMEX co-founder and former CEO who now runs family office Maelstrom, said Ether could clear $5,000 if it breaks above $3,000 and triggers reflexive buying. He said the bullish thesis is based on market positioning and potential Treasury and Federal Reserve-driven liquidity expansion, not Ethereum technology or developers. Hayes also clarified that FLOP Labs has issued no token, conducted no presale, or launched a memecoin, while outlining a no-venture-capital distribution plan tied to testnet activity and proof of useful inference.