Arthur Hayes has analyzed the Federal Reserve's Repurchase Market Program (RMP), highlighting its potential impact on liquidity and the cryptocurrency market. Hayes compares RMP to quantitative easing, noting that it injects funds into Treasury purchases, which can drive inflation and elevate asset prices. He suggests that this program supports government debt while avoiding public scrutiny, potentially serving as a long-term tailwind for Bitcoin and other assets. Hayes also points out that the RMP could ease long-term bond yields and stimulate the housing market. Despite these financial maneuvers, regulatory efforts to counter the financing of terrorism remain distinct and ongoing.