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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
Escalating risks in the Iran situation have pushed European natural gas prices back up to a four-year high.
According to a report from Bijie Network, Caixin News Agency, October 28 — Heating demand in the Northern Hemisphere is gradually rising, and combined with market concerns over an escalation of the Iran conflict, European natural gas prices have climbed to a near four-year high. Benchmark futures rebounded after a brief pullback in the previous trading session, gaining as much as 2.6% and rising above 98 euros per megawatt-hour for the first time since late 2022. Sources said the United States has notified several Persian Gulf countries to prepare for a short, high-intensity military operation after the midterm elections. Oil prices also rose in tandem. President Trump previously hinted that the United States might resume strikes on Iran and has already sent additional troops to the region, which has continued to push energy prices higher recently. The Middle East accounted for about one-fifth of global liquefied natural gas exports last year, and current supply is being disrupted by the conflict, with no sign of recovery yet. The global natural gas market is therefore maintaining a tight balance, and as temperatures drop, Europe and Asia will compete for limited spot LNG cargoes.
South Korea fines Apple and Google a combined 63.7 billion won.
South Korea's Korea Communications Commission (KMCC) will impose a combined fine of 63.7 billion won (about $48.1 million) on Google and Apple for forcing app developers to use their in-app payment systems. The KMCC will hold a plenary meeting on Wednesday to approve corrective orders imposing fines of 42.9 billion won and 20.8 billion won on Google and Apple, respectively, for violating the Telecommunications Business Act. In-app payment refers to a system that requires users to make purchases through Google's or Apple's payment systems. The two companies charge developers commissions of up to 30%, prompting complaints from developers about excessive fees. The fine decision comes three years after the regulator first announced its intention to punish the two U.S. tech giants.
The Initia Foundation approves funding to cover the iUSD reserve shortfall.
According to CoinWorld news, the Initia Foundation has approved funding to cover the reserve shortfalls of Noble USDC, WETH, and AUSD0 involved in the iUSD security incident on October 23, covering up to 1.08 million USDC, 105 ETH, and 1.4 million AUSD0 respectively, with the specific amounts pending verification and final transfer approval.
Ethereum ETFs saw a net outflow of $60.22 million, with a net inflow of $4.445 million so far in 2026.
CoinWorld data: On October 27, Ethereum ETFs saw a net outflow of $60.22 million, with a cumulative net outflow of $1.32 billion month-to-date and a net inflow of $4.445 million year-to-date in 2026. Among them, BlackRock's $ETHA had a net outflow of $93.28 million, Grayscale's mini version $ETH had a net inflow of $4.48 million, and Fidelity's $FETH had a net inflow of $28.58 million. The remaining ETFs (such as $ETHE, $ethb, $ETHW, $ethv, $msse, $ezet, $teth, $QETH) showed no fund flows.
Bitcoin ETFs recorded a net inflow of $176 million, bringing year-to-date net inflows in 2026 to $90.66 billion.
CoinWorld data: On October 27, total net inflows into Bitcoin ETFs were $176 million, with net outflows of $23.8 million month-to-date and net inflows of $906.6 million year-to-date in 2026. Among them, BlackRock's IBIT saw net inflows of $151.46 million, Fidelity's FBTC saw net inflows of $24.54 million, and Grayscale's GBTC and BTC (Mini) both recorded $0.
This Friday at 16:00 (Beijing time), Deribit will see 135,000 BTC expire.
CoinWorld data: It is expected that this Friday at 16:00 (Beijing time), Deribit will see 135,000 BTC expire, with a notional value of approximately $10.92 billion. The max pain price is $78,000, and the put/call ratio is 0.53.
Ghostty 1.4 released: history limit increased 5x, yet memory usage is lower
CoinWorld news: The Ghostty terminal emulator has released version 1.4.0, developed over 7 months with nearly 2,900 code updates submitted by 172 contributors. The new version raises the history limit from 10MB per terminal to 50MB, and after compression, plain text records can save 70% to 90% of physical memory. Official tests show that when opening 1 visible tab and 20 background tabs, GPU memory usage drops from about 385MiB to 18MiB. The new version also fixes 10 security vulnerabilities, one of which involves kitty graphics commands, where an attacker could trick the terminal into displaying malicious output, causing the program to crash or abnormally consume memory.
Binance Wallet will open the predict.fun token subscription on October 29.
According to CoinWorld news, Binance Wallet will hold the Prime Sale Pre-TGE subscription event for predict.fun tokens from 16:00 to 18:00 on October 29. Eligible users must participate using Binance Alpha points, and specific details and the event page will be announced via the official Binance Wallet X account.