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Former BitMEX CEO Arthur Hayes argued that trillions of dollars are being "wasted" on an overbuilt AI infrastructure boom, predicting an eventual crash followed by government bailouts. He said he is positioning for that outcome by betting on cryptocurrencies, which he expects to benefit from the resulting liquidity injections. Hayes' comments add to a growing debate among investors over whether current AI infrastructure spending is sustainable, with some strategists increasingly turning to crypto as a hedge against a potential tech correction.