Tom Hayes Says Libor Should Stay, Convicts Are Crazy for Crypto
- Benchmark rate is ‘really robust’ now, ex-UBS banker says
- Hayes says fellow inmates were ‘bonkers’ for Bitcoin
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Tom Hayes, the former trader convicted in the Libor-rigging scandal, said efforts to replace the benchmark were pointless and that the rate was far safer now.
Speaking days after he was freed from prison after serving half of his 11-year sentence, Hayes said there is no need for the cost and hassle of replacing London interbank offered rate, a move that was prompted by the international investigations that led to his conviction.