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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
Tencent Cloud Drive beta test: integrates multiple AI Agents, 1TB space shared across products
According to a report from Bijie.com, Tencent is internally testing a new version of "Tencent Drive." This time, it does not intend to compete with Baidu Netdisk on storage capacity, but instead hopes to build a repository shared by multiple AI Agents, allowing different AIs to read the same batch of files and complete previous work. Actual testing found that Tencent Drive already supports connections to Tencent Docs and workbuddy, and provides access options for third-party Agents such as openclaw and deepseek harness. Tencent's official website lists cross-application search capabilities and the ability for Agents to access drive files through CLI and MCP. The free space in this internal test version is 5GB, and after activating buddy one VIP, users can obtain 1TB of shared space. ByteDance is also developing a similar product, adrive, attempting to let different Agents share a cloud working directory. The two major tech companies are transforming cloud drives from file repositories into shared workspaces that AI can directly read and write.
Commerzbank: If market rate-hike expectations do not cool down, the dollar is expected to remain strong.
Coin World news, Commerzbank analyst Volkmar Baur said in a report that although Fed Chair Warsh did not send a clear signal about further monetary policy tightening in December at Wednesday's meeting, the dollar's strong performance may still continue. He pointed out that interest rates are likely to remain unchanged tonight. If Warsh continues his usual communication style as expected, the press conference may not reveal any clues about the direction of policy in December. However, as long as no remarks weaken market expectations of a "December rate hike, plus two more hikes next year," the dollar is very likely to remain firm.
Bybit will delist the EPICUSDT perpetual contract on October 30.
According to CoinWorld news, Bybit will delist the EPICUSDT perpetual contract at 9:00 UTC on October 30, 2026. After the delisting, the contract will no longer be available for trading, all active orders and conditional orders will be automatically canceled, and open positions will be automatically closed at the average index price from the 30 minutes prior to delisting. Trading bots will also no longer support the contract.
The Philippines is in discussions with Saudi Arabia and several other countries on petroleum storage arrangements.
The Philippine Energy Secretary Sharon Garin said on Wednesday that the Philippines is negotiating with countries including Saudi Arabia, Russia, and the United States on oil storage to address the risk of soaring fuel prices triggered by the Iran war; in addition, the Philippines is also in discussions with Russia, the United States, Japan, Kuwait, the UAE, and Australia on oil storage matters. Garin said the Philippines plans to increase diesel-fired and natural gas-fired power generation to make up for the possible decline in hydropower and solar power generation caused by El Niño. Hydropower generation is expected to decrease by about 60% and solar power generation by 20% in the first half of 2027. The Philippines plans to build its first government-owned oil storage tank in Bataan Province next year for strategic petroleum reserves. Garin said the Philippines' current fuel inventory can meet 55 days of demand, above the minimum requirement of 15 days; the government currently stores 1 million barrels of oil in private facilities. "We will start with 1 million barrels and expand the scale year by year in the future, with the goal of reaching a reserve level that can meet 60 days of demand," she said. The reserves will consist of half crude oil and half refined fuel.
PBoC: At the end of Q3, the outstanding balance of RMB inclusive small and micro loans was 38.50 trillion yuan, up 6.7% year on year.
According to a report from Bijie, [Central Bank: At the end of the third quarter, the balance of RMB inclusive small and micro loans was 38.50 trillion yuan, a year-on-year increase of 6.7%] Cailian Press, October 28 — According to statistics from the People's Bank of China, at the end of the third quarter of 2026, the balance of RMB inclusive small and micro loans was 38.50 trillion yuan, a year-on-year increase of 6.7%, with a growth rate 1.9 percentage points higher than that of all loans, and an increase of 1.93 trillion yuan in the first three quarters. The balance of operating loans to rural households with a single-household credit line of less than 5 million yuan was 10.17 trillion yuan, an increase of 360.5 billion yuan in the first three quarters. The balance of student loans was 440.4 billion yuan, a year-on-year increase of 49.6%.
ADNOC, TotalEnergies and Chevron are expected to win India's 2027 LPG supply contracts.
Coin World news: Abu Dhabi National Oil Company (ADNOC), TotalEnergies and Chevron are expected to win India's 2027 liquefied petroleum gas (LPG) supply contracts. Two market sources said India's state-owned LPG importers may award a joint tender contract to the three companies, which seeks to deliver about 2.75 million tons of LPG in 2027. Indian companies received a total of about 12 long-term import tender offers this time. Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation had sought to purchase four very large gas carrier cargoes per month. India's oil minister said on Tuesday that 67% of India's current LPG imports come from the United States.
Hong Kong's exports surged nearly 65% in September, the highest increase in more than 40 years.
According to CoinWorld news, the Hong Kong SAR Government Census and Statistics Department announced that Hong Kong's exports in September 2026 grew by 64.9% year-on-year, the highest increase in more than 40 years, with the total value of merchandise exports rising to HK$762.6 billion (about US$97.8 billion), continuing strong growth after a 53% year-on-year surge in August. September marked the 12th consecutive month of double-digit export growth for Hong Kong and the largest single-month year-on-year increase in more than 40 years. A spokesman for the SAR Government said that, going forward, against the backdrop of a strong wave of artificial intelligence-related investment and the resilience of the global economy, Hong Kong's merchandise trade performance will continue to benefit.
Nadella: I was wrong about AI alignment
CoinWorld news: Microsoft CEO Satya Nadella said he once held a mistaken view on the AI alignment problem, and warned that ensuring the safety of future AI systems may be a "harder and different problem."