Arthur Hayes, the BitMEX co-founder and Maelstrom chief investment officer, maintained his structural Bitcoin long and set a year-end 2026 target of $10,000 for Ether in his latest Substack article, "Atención." He also forecast Ethena at $0.50 and Ether.fi at $2, linking the outlook to a possible decline in EURJPY from around 185 to 140 or lower by mid-2027, Bank of Japan rate increases, U.S. Treasury bond buybacks and expanding dollar liquidity. EURJPY traded at 182.45 after the Treasury announced a $12.5 billion debt buyback funded from a $1 trillion cash cushion. Ether was trading near $2,486.04, up 3.82% over 24 hours after touching a low of $2,357, while Ethena stood near $0.1608 and Ether.fi near $0.5866. Hayes said Treasury Secretary Scott Bessent wants to sell euros and buy yen, a strategy he argued would increase dollar liquidity, and pointed to roughly three-times upside for Ethena and Ether.fi if his targets are reached. Ethena has also launched Ethena Pay, a crypto neobanking service built on Avalanche that supports saving, spending, transfers and earning with USDe across 48 countries. Polymarket traders assigned roughly a one-in-four chance of Ether reaching $2,000 in September and a 71% chance of reaching $2,500. Hayes has previously said Ethereum offers the strongest risk-adjusted potential for fresh capital and retained a long-term $1 million Bitcoin outlook for 2030.