HomeNewsTake a Look: Covalent Welcomes Arthur Hayes as New Strategic Advisor

Take a Look: Covalent Welcomes Arthur Hayes as New Strategic Advisor

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  • Arthur Hayes joins Covalent as strategic advisor to enhance Ethereum data and AI applications.
  • Covalent’s EWM ensures long-term access to Ethereum’s historical data for AI development.

Former BitMEX CEO and co-founder Arthur Hayes joined blockchain data infrastructure firm Covalent as a strategic advisor recently.

With this action, Hayes’s impact in the blockchain space—especially in the Ethereum environment and the developing artificial intelligence (AI) sector—is confirmed. Hayes wants to see Covalent rise to the top of the data infrastructure startups.

Arthur Hayes’ Vision for Covalent

Hayes is committed to assisting Covalent in using its Ethereum Wayback Machine (EWM) to give long-term, durable access to blockchain data. For creating the upcoming AI model generation, this is essential.

Ensuring that all data in the Ethereum ecosystem is accessible, the EWM gives users and AI developers access to the whole on-chain history. This invention tackles the expanding tendency of blockchains to function more like billboards than databases and frequently delete transaction data after brief periods of time.

When asked why he joined Covalent, Hayes brought up the fact that the CQT token of the company is not as valuable as that of its rivals.

Hayes wants to make sure that the story of Covalent gets heard by bridging the gap between its traction and its narrative. With his payment in CQT tokens, Hayes will have his interests aligned with those of the team, investors, and clients.

Covalent’s Expansion and AI Vision 

Founded in 2019, Covalent offers data infrastructure to more than 225 networks, including Optimism, Polygon, Avalanche, Ethereum, and Bitcoin. Covalent has grown in popularity within the Ethereum ecosystem despite having support from a wide range of networks.

Ganesh Swami, CEO of Covalent, highlights that as the decentralized data infrastructure of the company guards against biases and manipulation, AI models depend on it.

With decentralized, long-term access to Ethereum’s transaction data made possible by Covalent’s EWM, AI applications from copy trading to NFT forensics and security are greatly enhanced.

In his capacity as a “full-scope” advisor, Hayes works on tokenomics, market positioning, business model adjustments, and attracting new clientele.

Collaboration and Broader Influence

Covalent and Hayes started talking together at ETHGlobal Tokyo and then worked out their partnership at ETH Denver. The Maelstrom family office of Hayes provides advice on additional decentralized initiatives like Ethena, Ritual, and Drift.

Interestingly, by making large investments and owning more than 1.5 million tokens, Hayes has demonstrated a strong belief in PENDLE’s ability to become a top derivatives exchange. Ethena (ENA) will also, he thinks, experience significant future expansion, in line with what ETHNews previously disclosed.

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Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: [email protected] Phone: +49 160 92211628