According to CoinMeta, Bitcoin could benefit from the Federal Reserve's expansion of its facilities. Co-founder Arthur Hayes stated on August 11 that as part of Japan's defense against the yen, the Federal Reserve is discussing facilities that could create liquidity support for Bitcoin, Ethereum, and gold. He pointed out that Japan could obtain dollars by pledging U.S. Treasury bonds through the Federal Reserve's foreign exchange and international monetary authorities' repurchase facilities, and then sell these dollars to buy yen. The Japanese Ministry of Finance confirmed coordination with the U.S. Treasury Department on purchasing yen on July 31 and plans to use such facilities in the future. Hayes believes that removing or significantly raising the trading limits on FIMA would enable Japan to conduct larger-scale yen interventions without having to sell Treasury bonds in the market.