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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
标普500期权Put/Call比报1.16
Bjie.com US stock data: The S&P 500 options Put/Call ratio is 1.16, with put option trading volume higher than call option volume on the day. Compared with the same-caliber snapshot 24 hours earlier, it rose by 0.05; compared with the same-caliber snapshot 7 days earlier, it rose by 0.01.
Saudi refinery attack heightens supply concerns, Gulf stock markets fall broadly
Saudi refinery attacked, intensifying market concerns over supply; Gulf stock markets broadly decline. The refinery is the largest in Saudi Arabia, with a daily refining capacity of 550,000 barrels. Saudi Arabia's benchmark stock index fell 1.3% intraday, Dubai's benchmark index fell 0.5%, and Abu Dhabi's benchmark index fell 1%. Among them, oil and banking stocks performed poorly, with Saudi Aramco falling 1.3%, leading the decline in the Saudi market.
Seagate Technology fell nearly 4% in premarket trading after previously announcing its first-quarter results and outlook, according to Cailian Press on October 28.
According to CoinWorld news, Caixin reported on October 28 that Seagate Technology fell nearly 4% in pre-market trading in the U.S. after previously announcing its first-quarter results and outlook.
Robotics AI company Physical Intelligence is racing toward a $20 billion valuation, and it still has no revenue.
According to Biji.com, robotics AI startup Physical Intelligence (π) is in talks for at least $1 billion in new funding at a target valuation of about $20 billion. Existing investors Avenir and Lux Capital are expected to lead the round. The company has no revenue yet, but its valuation has risen from $5.6 billion last November to $11.5 billion. If the round succeeds, the valuation will climb further to about $20 billion. Founded in 2024, Physical Intelligence has a founding team from Google DeepMind, Stanford University, and UC Berkeley, with investors including Bezos, CapitalG, and Thrive Capital. The company is developing a general-purpose AI "brain" that enables robots to perform tasks such as folding clothes, organizing dishes, and picking strawberries. On October 13, the company opened a beta of its PI API, allowing external developers to upload robot operation data, with the platform handling model fine-tuning.
未知钱包转入107,162,708 USDT
CoinWorld data: According to Whale Alert monitoring, 107,162,708 USDT (approximately $107 million) has just been transferred in from an unknown wallet.
CZ warns that leaking exchange data may lead to phishing and real-world attacks.
According to Cointelegraph, CZ warned that leaked exchange data could fuel phishing, SIM-swap, and real-world attacks, following four reported data breaches across crypto and traditional finance. He reminded everyone to stay safe.
The long-to-short account ratio for BTC contracts is 1.95.
CoinWorld data: The BTCUSDT 4-hour long-short account ratio is 1.95, with more net long accounts than net short accounts. Compared with the same-caliber snapshot 24 hours ago, it is down 0.45; compared with the same-caliber snapshot 7 days ago, it is up 0.5135.
State Street Investment Management lowers the probability of its 2027 gold price forecast to 60%.
According to Bijie news, State Street Investment Management maintains its forecast that gold prices will fluctuate between $4,750 and $5,500 per ounce by the end of the first quarter of 2027, though it has lowered the probability of this scenario occurring from 70% to 60%.