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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
Zcash Co-founder Sean Bowe Proposes Ending ZCG Funding Stream, Citing $125M Treasury
Zcash (ZEC) co-founder Sean Bowe proposed on Monday to end the 8% block reward share paid to Zcash Community Grants (ZCG), saying the program already holds over $125 million. Bowe filed the change as a draft Zcash Improvement Proposal (ZIP) that would send that reward share to the Network Sustainability Mechanism (NSM) until the stream’s scheduled end. That mechanism withholds the coins from issuance and starts paying them back out as block rewards in February 2031. Under the draft, ZCG would keep its existing treasury and could still approve grants from it. “The program was never designed to handle this amount of funding,” Bowe wrote on X. It’s time to turn off the ZCG funding stream. ZCG has over $125M in funding, and will receive millions more before the spigot is turned off. The program was never designed to handle this amount of funding. — Sean Bowe (@ebfull) <a href="https://x.com/ebfull/status/2114911107718742451?ref_src=twsrc%5Etfw" rel="nofollow" target="_blank">October 27, 2026</a> Bowe’s figure comes from a dashboard linked on ZCG’s website. It listed 91,453 ZEC and $8.8 million in cash at an October 21 block. Approved grants still unpaid came to $2.4 million. Bowe valued the coins at $1,300 each to reach $125.3 million. The same dashboard counts another 110,049 ZEC due to ZCG before the stream ends on November 24, 2028. According to the draft ZIP, at the dashboard’s price of $1,241.61, those coins are worth $136.6 million, more than the program holds now; and, according to a Financial Privacy Foundation report, ZCG spent $1.53 million in the first quarter of 2026 <span>against that intake</span>. The stream adds 144 ZEC a day, which Bowe put at $68.3 million a year at the same coin price. Bowe’s draft landed alongside other proposals on the Zcash forum. For instance, Maxime Desalle’s proposal would also send ZCG’s remaining treasury to the NSM. Desalle cited a February coinholder vote in which 98.6% opposed Zcash Shielded Assets. ZCG approved another $455,000 for Shielded Assets work in June, he said. Turnout was 7.25% of circulating ZEC, per the Zcash Foundation. In June, ZCG approved $455,000 for a QEDIT test network covering Shielded Assets and other deferred features, its minutes show. Josh Swihart, founder and CEO of Zcash Open Development Lab (ZODL), said: “It’d be a mistake to kill only one part of the dev fund.” He added the 12% Coinholder-Controlled Fund, which accrues about 216 ZEC a day, should end too. Swihart’s company is the one former Electric Coin Company staff <a href="https://cryptopotato.com/zcash-governance-crisis-forces-full-exit-of-electric-coin-company-staff/" rel="nofollow" target="_blank">formed</a> after a governance dispute. Responding to Swihart’s plan, Bowe wrote that he would also personally back a separate proposal to strip ZCG’s existing treasury. Ian Miers, one of Zcash’s founding scientists, objected to the NSM as the destination, stating that the reserve ultimately pays miners and could
HP and ASUS shift some PC production back to China due to rising AI costs.
According to a report by Financial Juice, a financial news website, HP and Asus are moving some PC manufacturing back to China due to AI-driven cost increases, and Dell is also evaluating moving some PC production back to China, according to Nikkei.
An unknown wallet received 931 BTC, worth approximately $75.1452 million.
CoinWorld data: According to Whale Alert monitoring, 931 BTC (approximately $75.1452 million) has been transferred in from an unknown wallet.
According to CNN: Bolsonaro allies say the Trump administration has signaled asylum.
According to a CoinWorld report, citing CNN: Bolsonaro's allies say the Trump administration has signaled it would offer asylum.
Circle在Solana网络新铸造2.5亿枚USDC
CoinWorld data: Circle newly minted 250 million USDC on the Solana network, worth approximately $250 million; the minting transaction was received by a Circle address and has been confirmed.
Market news: Iranian President Pezeshkian has left Russia.
CoinWorld news, market news: Iranian President Pezeshkian has left Russia.
Anchorage Digital Bank为MXNB提供托管，Bitso上线USDPT与USAT
CoinWorld data: Anchorage Digital Bank provides custody services for MXNB across six blockchains: Arbitrum, Base, Ethereum, Polygon, Avalanche, and Arc. Meanwhile, Bitso has listed the USD stablecoins USDPT and USAT, issued by Western Union and Tether. Mexican users can buy and sell USDPT through the Bitso app, and Western Union agents can exchange USDPT for other currencies.
Oracle expands partnerships with Google, Intel, Nvidia and others, shares up as much as 5%
CoinWorld news, Oracle announced that it will provide Google Tensor Processing Units (Google TPU) through Oracle Cloud Infrastructure (OCI), as part of a series of new partnerships and expansions of existing partnerships announced by the company on Tuesday. Oracle plans to bring its applications to OpenAI's ChatGPT, further expanding the existing partnership between the two companies. Oracle also announced an agreement with Intel to expand Intel Xeon processor-based computing services on OCI. Oracle and Nvidia will use Vera Rubin to expand OCI superclusters. Oracle will partner with Snowflake to expand native AI and data services on OCI. Oracle is developing Oracle AI Workspace and will provide cloud services based on Cerebras Systems Inc. computers in its data centers. After the above news was announced, Oracle's stock price rose as much as 5%, Alphabet rose 1.4%, Intel rose 3.5%, Nvidia rose 0.9%, Snowflake rose 1.5%, and Cerebras rose 8.7%.
Financial Associated Press, October 28 — An Anthropic study shows that analysts follow AI agents' advice in 86% of cases.
Coin World news, according to a report by Cailian Press on October 28, Anthropic research shows that analysts follow the advice of AI agents in 86% of cases.