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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 U.S.-China Chamber of Commerce discusses AI cooperation.
CoinWorld news: The China-U.S. Chamber of Commerce is discussing cooperation in the fields of artificial intelligence (AI) and new energy vehicles (NEV).
Securitize adds Stellar to its list of supported blockchains
CoinWorld news, tokenized asset platform Securitize has announced the addition of Stellar to its list of supported blockchains, having previously supported Ethereum, Solana, and Avalanche. Securitize CEO Carlos Domingo stated that the Stellar network has already built the fourth-largest tokenized real-world asset ecosystem. Stellar was founded in 2017 and listed on the New York Stock Exchange in July of this year.
Itaú Unibanco files cryptocurrency trading and custody operations with Brazil's central bank
Itaú Unibanco reported its cryptocurrency trading and custody business to Brazil's central bank before the October 30 deadline, according to Bihaiwang news.
Mirae Asset Securities' Hong Kong subsidiary completes tokenized note issuance on Solana
Mirae Asset Securities (HK) has completed the issuance of a tokenized financing note on the Solana blockchain. The note is denominated in US dollars, has a six-month term, is a floating-rate note, and is included in the company's $3 billion secured structured notes program. Marketnode served as the authorized distributor, the Solana Foundation provided support, and Mirae Asset Securities was responsible for token issuance, payments, and full lifecycle management. The note was offered only to professional investors.
DEX trading volume over the past 24 hours reached 7.349 billion USD.
CoinWorld data: Within the scope, DEX 24-hour trading volume was 7.349 billion USD, a decrease of 12.5% compared with the previous statistical period under the same methodology. Among them, the DEX trading volumes of the five monitored public chains were: Ethereum 1.154 billion USD; Solana 1.874 billion USD; BSC 927 million USD; Base 892 million USD; Arbitrum 148 million USD.
ING: UK budget could be positive for the pound and gilts
According to CoinWorld news, ING analyst Chris Turner said in a report that the budget to be announced by the UK Chancellor of the Exchequer at 20:30 Beijing time may have a positive impact on the pound and UK government bonds. The spread between UK and German government bond yields is expected to potentially narrow. Looking ahead to 2027, the UK is one of the few economies in the Group of Seven (G7) whose fiscal position is moving in the right direction. As inflation rises, more workers are pushed into higher income tax brackets, and the UK budget deficit is expected to be below 4% of gross domestic product (GDP). He said: "Unless the budget unexpectedly introduces fiscal measures to boost the economy, which would in turn hit UK government bonds, the euro-to-pound exchange rate seems likely to remain under pressure and could further test around 0.8315."
Mara Holdings转移1000枚BTC至BitGo，价值约8066万美元
According to Biji Network data, Mara Holdings transferred 1,000 bitcoins to BitGo 9 hours ago, valued at approximately $80.66 million at current prices.
Main force 24-hour movement: ETH whales show more limit sell orders, totaling 1.44 billion USD.
Bijie.com data: The total trading volume of major players over the past 24 hours shows that BTC recorded a cumulative trading volume of 806 million USD, of which buy trades amounted to 455 million USD and sell trades to 351 million USD, with a net trading difference of 104 million USD. ETH recorded a cumulative trading volume of 1.44 billion USD, of which buy trades amounted to 630 million USD and sell trades to 810 million USD, with a net trading difference of -180 million USD. The latest data shows that major players still have positions at key price levels: BTC's net pending order difference is 1.138 billion USD, and ETH's net pending order difference is 2.668 billion USD. Major players' pending orders may be withdrawn or filled at any time. The data is for reference only and does not constitute any investment advice.