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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
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
The Ukrainian parliament passed the 2027 budget in its first reading.
CoinWorld news: The Ukrainian parliament passed the 2027 budget in its first reading.
Data analytics platform Hex raises $100 million at a $1.2 billion valuation.
CoinWorld data: Data analytics platform Hex has completed $100 million in funding at a valuation of $1.2 billion. The round was led by Peak XV and 137 Ventures, with participation from Amplify, Avra, A16Z, Redpoint, Sequoia, and Zero Prime. Meanwhile, Hex has released Hex 4.0, built on an AI-agent-native architecture.
An address was liquidated 13 times on a short ETH position, losing $1.14 million.
According to Bijie.com data: An address was created 9 days ago and began shorting ETH after depositing $1.25 million in USDC. It was subsequently liquidated 13 times, with a cumulative 18,080 ETH position liquidated, worth approximately $43.9 million, resulting in a loss of $1.14 million.
Canary Capital files for a PEPE spot ETF, currently under SEC review.
CoinWorld news: Canary Capital has submitted an S-1 registration statement and amended filing for the Canary PEPE ETF to the U.S. Securities and Exchange Commission (SEC), proposing to directly hold PEPE tokens and list on the CBOE BZX trading platform. The product is currently under regulatory review and has not yet been approved. In addition, an address associated with Justin Sun holds 11.8 trillion PEPE tokens, with an average purchase price of $0.000004114.
MUFG: Even if the Bank of Canada raises rates, the upside for the Canadian dollar remains limited.
According to a report from CoinWorld, Derek Halpenny, an analyst at MUFG Bank, said in a report that even if the Bank of Canada raises interest rates as signaled by Governor Macklem, the upside for the Canadian dollar will be limited. The market currently expects a 76% probability that the Bank of Canada will raise rates by 25 basis points, which means that if a rate hike is ultimately announced, it could still bring some "surprise" to the market. However, he believes that the signal from Macklem is unlikely to sustain the market's confidence that the Bank of Canada will enter a long-term rate-hiking cycle in the future. Currently, market pricing shows a cumulative 100 basis points of rate hikes by September next year. He also said that market participants will remain cautious before the Federal Reserve announces its interest rate decision.
Bitcoin price faces a second consecutive 'Downtober' as US spot demand weakens.
CoinWorld data: Bitcoin prices are facing a second consecutive October loss amid weakening US spot demand, challenging its "Uptober" reputation. According to market data, Bitcoin fell from around $83,600 at the end of September to $79,200, then rebounded to $81,500 on Wednesday, although the final monthly result remains undetermined. Bitcoin was down about 3.8% at its last close in October 2025. Another negative result would make 2026 the second consecutive losing October. According to a CryptoQuant report, October has averaged a 22.5% gain over the past five years. The latest data shows that US spot Bitcoin funds attracted $176 million in inflows on October 27, with BlackRock's IBIT contributing $151.5 million.
On-chain monitoring: $ETH short traders were liquidated 130 times, losing $1.14 million.
CoinWorld data: According to Lookonchain monitoring, a recent $ETH short trader known as the "King of Liquidation," 0xb15b, has been liquidated 13 times since creating a wallet and depositing $1.25 million 9 days ago, with a total of 18,080 $ETH liquidated, worth approximately $43.9 million, resulting in a loss of about $1.14 million.
Barron's: AI Power Demand Remains Red-Hot as GE Vernova's Orders Surge
Coin World news, according to Barron's, Ge Vernova's orders surged, and its financial report shows that AI power demand remains strong.