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More →Arthur Hayes Plans to Build Derivatives Around AI Compute
Arthur Hayes published a new essay on October 27 outlining futures and perpetual swaps tied to Flop Network’s proposed compute market, where AI agents would pay for computing power using FLOP. The plan aims to establish a reference price for compute that traders could use to build financial contracts around the resources AI systems consume. In a post on X, Hayes called his essay “The Trifecta” and <a href="https://x.com/CryptoHayes/status/2114857087004201325?s=20" rel="nofollow" target="_blank">described</a> it as a blueprint for entrepreneurs seeking to build derivatives for the AI agent economy. His central idea is that a liquid spot market for computing power could <a href="https://cryptohayes.substack.com/p/the-trifecta" rel="nofollow" target="_blank">provide</a> the pricing benchmark needed for futures and perpetual swaps. The proposed Flop Reference Compute Rate (FRCR) would be calculated hourly using a volume-weighted FLOP price per GigaFLOP of computing capacity. Quarterly futures would settle on the last Friday of March, June, September, and December, with contracts using US dollars for margin and profits. Hayes explained that the dollar-based structure would require a quanto derivative, a contract whose payout uses a different currency from its underlying asset. Because the compute market would be priced in FLOP while traders could prefer dollar-denominated returns, pricing the contract would require an adjustment for the relationship between the FRCR and the FLOP-to-dollar exchange rate. The proposed perpetual swap would use an eight-hour time-weighted average of the difference between its trading price and the FRCR to calculate funding payments. As with crypto perpetuals, traders on the expensive side of the contract would pay those on the cheaper side, depending on the premium. Market makers could recreate futures exposure by buying or supplying Flop Compute Units (FCUs), which represent reserved inference capacity for a specified AI model and delivery time. Hayes’s design also requires suppliers to post FLOP bonds, which they risk losing if they fail to deliver the promised computing work. The derivatives proposal depends on Flop Network first establishing a functioning spot market. Hayes argues that existing indexes tracking chip rental prices and individual AI token prices provide incomplete information because both are derivatives of the underlying cost of computation. Under his design, network blocks would record inference tasks, the computing work completed, and the fees paid to miners. Those receipts would help calculate the exchange rate between FLOP and computing capacity, giving buyers and suppliers a common reference. Hayes <a href="https://cryptopotato.com/arthur-hayes-called-ai-a-bubble-now-hes-launching-an-ai-project/" rel="nofollow" target="_blank">introduced</a> Flop Labs in August 2026, describing its proposed native token FLOP as “food for your AI agent.” In an August 27 explanation, the project <a href="ht
Zcash Co-founder Sean Bowe Proposes Ending ZCG Funding Stream, Citing $125M Treasury
Zcash (ZEC) co-founder Sean Bowe proposed on Monday to end the 8% block reward share paid to Zcash Community Grants (ZCG), saying the program already holds over $125 million. Bowe filed the change as a draft Zcash Improvement Proposal (ZIP) that would send that reward share to the Network Sustainability Mechanism (NSM) until the stream’s scheduled end. That mechanism withholds the coins from issuance and starts paying them back out as block rewards in February 2031. Under the draft, ZCG would keep its existing treasury and could still approve grants from it. “The program was never designed to handle this amount of funding,” Bowe wrote on X. It’s time to turn off the ZCG funding stream. ZCG has over $125M in funding, and will receive millions more before the spigot is turned off. The program was never designed to handle this amount of funding. — Sean Bowe (@ebfull) <a href="https://x.com/ebfull/status/2114911107718742451?ref_src=twsrc%5Etfw" rel="nofollow" target="_blank">October 27, 2026</a> Bowe’s figure comes from a dashboard linked on ZCG’s website. It listed 91,453 ZEC and $8.8 million in cash at an October 21 block. Approved grants still unpaid came to $2.4 million. Bowe valued the coins at $1,300 each to reach $125.3 million. The same dashboard counts another 110,049 ZEC due to ZCG before the stream ends on November 24, 2028. According to the draft ZIP, at the dashboard’s price of $1,241.61, those coins are worth $136.6 million, more than the program holds now; and, according to a Financial Privacy Foundation report, ZCG spent $1.53 million in the first quarter of 2026 <span>against that intake</span>. The stream adds 144 ZEC a day, which Bowe put at $68.3 million a year at the same coin price. Bowe’s draft landed alongside other proposals on the Zcash forum. For instance, Maxime Desalle’s proposal would also send ZCG’s remaining treasury to the NSM. Desalle cited a February coinholder vote in which 98.6% opposed Zcash Shielded Assets. ZCG approved another $455,000 for Shielded Assets work in June, he said. Turnout was 7.25% of circulating ZEC, per the Zcash Foundation. In June, ZCG approved $455,000 for a QEDIT test network covering Shielded Assets and other deferred features, its minutes show. Josh Swihart, founder and CEO of Zcash Open Development Lab (ZODL), said: “It’d be a mistake to kill only one part of the dev fund.” He added the 12% Coinholder-Controlled Fund, which accrues about 216 ZEC a day, should end too. Swihart’s company is the one former Electric Coin Company staff <a href="https://cryptopotato.com/zcash-governance-crisis-forces-full-exit-of-electric-coin-company-staff/" rel="nofollow" target="_blank">formed</a> after a governance dispute. Responding to Swihart’s plan, Bowe wrote that he would also personally back a separate proposal to strip ZCG’s existing treasury. Ian Miers, one of Zcash’s founding scientists, objected to the NSM as the destination, stating that the reserve ultimately pays miners and could
Discord is making public chats searchable on Google: How to opt out
Discord conversations on large public servers will soon reach audiences far beyond their communities, raising privacy concerns. Discord is making a policy change that will make conversations from its largest public servers discoverable in search engines, including Google, raising privacy concerns among users whose conversations were previously confined to the platform. The change applies to Discoverable Servers — communities with at least 1,000 members listed in Discord’s public directory that do not require an invitation to join. From Nov. 16, every Discoverable Server will have a web page that may include summaries of public channel discussions. From mid-December, individual messages posted in eligible channels may appear in web search, Discord<a href="https://discord.com/blog/making-content-from-discoverable-servers-easier-to-discover" rel="nofollow noopener" target="_blank">> <span>said</span></a> Tuesday. Messages posted before the rollout will not be included, while usernames and avatars will be excluded from published messages. Example of an individual message being shown online. Source: <a href="https://discord.com/blog/making-content-from-discoverable-servers-easier-to-discover" rel="nofollow noopener" aria-label="Source: Discord" target="_blank">Discord</a> Discord said the shift of online communities from message boards to its servers had made useful answers harder to find. “This has led to valuable information being locked in Discord conversations, inaccessible to the wider internet. We want to fix this,” the company said. The move has <a href="https://www.reddit.com/r/discordapp/comments/1xgxb68/comment/19rr367kxqlk2/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button" rel="nofollow noopener" target="_blank">><span>drawn</span></a> criticism from users concerned about their conversations reaching an audience outside of their intended community, even if the servers are public in the first place. <em><strong>Related: </strong></em><a href="https://cointelegraph.com/news/starknet-introduces-wallet-privacy-feature-for-defi-activity" target="_blank" rel="nofollow"><span><em><strong>Starknet introduces wallet privacy feature for DeFi activity</strong></em></span></a> Others welcomed the change, saying it could make useful answers easier to find. One user in Discord’s announcement thread <a href="https://www.reddit.com/r/discordapp/comments/1xgxb68/official_megathread_discoverable_servers_are/" rel="nofollow noopener" target="_blank">><span>called</span></a> it “very much necessary,” while another said moving communities from forums to Discord had made their discussions harder to find through search. The change could also affect cryptocurrency communities that use Discord for technical discussions, support and project announcements. Cointelegraph found nearly 800 servers tagged “cryptocurrency,” around 1,400 tagged “trading” and more than 700 tagged “finance” in Discord’s public directory. Disc
U.S. nonfarm payrolls added only 29,000 jobs in September, a sharp drop.
According to CoinWorld news, the U.S. added only 29,000 nonfarm payroll jobs in September. Affected by population aging and tighter immigration policies, labor supply growth has slowed markedly. RSM US expects that about 50,000 new jobs per month may become the new normal over the next two years, arguing that weak employment growth does not necessarily mean the labor market has deteriorated, and expects the Federal Reserve to pause rate hikes in October. ING noted that September nonfarm payrolls, the unemployment rate, and year-on-year wage growth all showed the job market was weaker than expected, especially the slowdown in wage growth, which reduced the need for the Federal Reserve to raise rates in October. ABN AMRO believes that the current employment level is consistent with a relatively stable market, and that easing wage pressure gives the Federal Reserve room to observe the data. U.S. Bank said that hiring in the current job market has slowed but layoffs remain low, and the unemployment rate remains stable. Bank of America noted that wage income growth slowed in September, but after-tax wage income for low-income households grew 4.5% year on year, indicating that wage performance for some low-income worker groups remains resilient. KPMG believes that the Federal Reserve should place the fight against inflation in an important position in policy discussions, and that a rate hike pause in October can be regarded as risk management.
Institutions: Labor market shows signs of weakness, supporting the Fed's wait-and-see stance.
According to a report from Bijie, institutional analyst Joan Feldbaum-Vidra said that although the U.S. economy is performing strongly overall, recent nonfarm payrolls and job creation data have shown signs of weakness in the labor market, a backdrop that supports the Federal Reserve in adopting a wait-and-see strategy. She noted that the normalization of oil transportation in the Middle East usually helps oil prices ease in the medium term. However, given the risk that the conflict could escalate further after the U.S. midterm elections, oil prices remain at relatively high levels. In addition, she said that large-scale borrowing demand from AI companies and the U.S. Treasury is pushing yields to remain elevated, which has to some extent helped the Federal Reserve achieve its own policy objectives.
Lynq partners with Zerobeta to allow tokenized U.S. Treasuries as collateral for loans and trading.
CoinWorld data: Lynq and Zerobeta announced the integration of their institutional platforms on Avalanche, allowing tokenized U.S. Treasury bonds to serve as collateral for secured loans and digital asset trading while continuing to earn interest. According to an October 27 announcement, the partnership connects Lynq's settlement network with Zerobeta's Blueshift risk management platform, enabling financial institutions to pledge eligible assets without transferring them. The integration leverages Lynq's collateral locking feature to ensure assets are placed in custody while continuing to accrue interest. Blueshift manages collateral requirements and monitors margin, while Lynq handles the actual pledging and release of assets. The arrangement will enable institutions to use existing assets to obtain financing and support trading positions without giving up the interest generated by those assets.
The U.S. federal government made a profit of $627 million from selling its Anthropic shares last year.
According to Cointelegraph, the U.S. federal government gained $627 million last year by selling Anthropic shares seized from parties associated with SBF. Those shares would have been worth $3.94 billion in last November's IPO.
The U.S. Department of Justice seeks to reinstate the Anthropic ban, while the General Services Administration expands cooperation.
CoinWorld news: The U.S. Department of Justice filed an appeal on October 26, seeking to reinstate a federal ban against Anthropic. The U.S. General Services Administration (GSA) announced the next day that it would expand its partnership with Anthropic, allowing government agencies to use Claude at a 40% discount, adopting a pay-as-you-go model with no minimum spending requirement. Currently, about 500 U.S. federal, state, and local government organizations use Claude, and over the past year, Claude usage by federal civilian agencies has grown about 20-fold.
鲸鱼向Coinbase Prime存入438.37 BTC，价值约3538万美元
CoinWorld data: Arkham reports that a Bitcoin whale deposited 438.37 BTC into Coinbase Prime, worth approximately $35.38 million at current prices. This deposit occurred after the whale withdrew 615.4 BTC from Coinbase Prime custody 16 months ago at an average price of $105,271. The current Bitcoin price is $80,807, and the whale has lost more than $15 million on this investment, while still holding approximately $14.31 million worth of Bitcoin.
US regulators approve Amazon's $11.5 billion acquisition of Globalstar
CoinWorld news, according to ITHome, the U.S. Federal Communications Commission on October 27 approved Amazon's satellite business Amazon Leo's $11.5 billion acquisition of Apple satellite supplier Globalstar. The acquisition will give Amazon about 24 satellites and mobile satellite communications spectrum, with plans to deploy thousands of satellites in low Earth orbit by 2029. Amazon has committed to investing more than $10 billion in Leo and plans to launch commercial satellite communications services by the end of 2026. FCC Chairman Brendan Carr said the asset integration will promote market competition and help communities across the United States stay connected.