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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
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.
Bank of Canada expected to raise rates for the first time in three years
CoinWorld news: The market widely expects the Bank of Canada to raise its benchmark interest rate by 25 basis points to 2.5% on Wednesday. Most economists believe that. If it raises rates, this will be the Bank of Canada's first rate hike since mid-2023 and its first monetary policy adjustment in nearly a year. A rate hike may push up bank lending rates and mortgage costs and weigh on economic growth. However, many economists say the move will help the Bank of Canada get ahead of cost pressures that may be triggered by rising gasoline and diesel prices in the coming months. Money markets currently expect about a 77% probability that the Bank of Canada will raise rates by 25 basis points today. The Bank of Canada will announce its monetary policy decision at 21:45 Beijing time.
Norway's prime minister said the call with Putin was aimed at conveying Europe's position.
CoinWorld news: Norway's prime minister on Wednesday defended his trilateral call with Russian President Putin and the Finnish president. He said the move was aimed at ensuring the Russian leader hears not only the American viewpoint but also understands Europe's position. The Norwegian prime minister said Norway hopes to push for de-escalation, including stopping attacks on Russian and Ukrainian energy infrastructure, halting strikes on ships transporting Ukrainian grain, and carrying out prisoner-of-war exchanges. When asked whether peace could be achieved without Ukraine ceding territory, he said: "Currently, Russia controls nearly 20% of Ukraine's territory. Ukraine will never sign an agreement acknowledging the loss of its territory. But whether Ukraine can accept the current front line as an established fact and as the starting point for negotiations is another question. The more critical question is: what kind of security guarantees can Ukraine obtain after a peace agreement is reached? Putin also acknowledges that this is a major issue." Russian Foreign Minister Lavrov said Tuesday's call brought no new progress toward resolving the Ukraine conflict, and that European countries were merely trying to secure a role in the negotiations.
NVIDIA CEO Jensen Huang: AI is manufacturing, not just software technology.
CoinWorld news, NVIDIA CEO Jensen Huang said at GTC Berlin, "AI is a manufacturing industry, not just a software technology." He discussed how AI will affect everything we build and how every company will be driven by digital intelligence.
NVDA off-exchange short sale volume ratio reported at 22.89%
BiJie Network US stock data: NVDA's off-exchange short-selling volume accounted for 22.89% of the total that day. Compared with the same-caliber snapshot 24 hours earlier, it fell by 4.9105 percentage points; compared with the same-caliber snapshot 7 days earlier, it fell by 11.9128 percentage points.
The Russian port of Murmansk has begun loading its first batch of export grain.
CoinWorld news: The Russian Arctic port of Murmansk said on Wednesday that it has begun loading its first batch of export grain. As Ukrainian attacks continue to affect Black Sea ports, Russia, the world's largest wheat exporter, is shifting part of its trade to other ports. According to shipping data and industry sources, the grain shipment may be destined for Morocco.
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.