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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
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
Ripple CEO Garlinghouse庆祝Swell会议十周年
Coin World News: Ripple CEO Brad Garlinghouse celebrated the tenth anniversary of the company's flagship conference Swell in a recent post on X and shared important announcements from the event. He mentioned that the unexpected appearance of U.S. Treasury Secretary Scott Bessent was a major highlight of the conference. Garlinghouse said it was his honor to open the event together with Bessent and praised the Treasury Secretary's contribution to shaping the U.S. regulatory environment for digital assets. In addition, Ripple announced an expanded partnership with Robinhood to integrate its financial infrastructure into customer products and internal systems. The new partnership will cover institutional digital asset custody and tokenized trade finance solutions. Garlinghouse also mentioned that Ripple Treasury launched a 24/7 returns service and received final approval from the U.S. Office of the Comptroller of the Currency to open Ripple National Trust Bank, which will be responsible for managing rlusd reserves and institutional digital asset custody.
Hive Digital Technologies签署1.29亿美元信贷协议用于AI GPU采购
Bitcoin mining company Hive Digital Technologies announced that its subsidiary Buzz Alpha Cloud has signed a fixed-rate credit agreement of approximately $129 million with institutional lenders, with an annual interest rate of 9.0%, a three-year term, and a loan-to-value ratio of approximately 80%. The financing will be used to purchase AI GPU clusters, including NVIDIA GB200 NVL72 systems, and related infrastructure to fulfill a three-year sovereign AI customer contract signed with Cohere. Hive's CEO stated that the financing corresponds to the purchase of 2,303 NVIDIA GB200 GPUs worth approximately $165 million, with the related equity contribution coming from the company's 0% interest convertible bonds issued earlier this year. The company expects GPU delivery to take place by the end of the fourth quarter of 2026.
Anthropic will pay SpaceX AI $3.1 billion per month for computing services.
CoinWorld news: Anthropic will pay SpaceX AI $3.1 billion per month starting in December for computing services, amounting to roughly $37 billion in annual payments, with the agreement potentially reaching a total value of $120.5 billion by 2029. This fee accounts for about 55% of Anthropic's reported average monthly revenue in the third quarter, making it a massive expense for the company and also a major source of revenue for SpaceX AI. The agreement allows either party to terminate the contract with 90 days' prior notice.
Former Intel CEO Kissinger bets on new AI memory Z2RAM
CoinWorld news: Former Intel CEO Pat Gelsinger, through venture capital firm Playground Global, is backing memory startup Nagare Labs in developing next-generation storage technology Z2RAM. The company recently completed a $5 million seed funding round, aiming to build AI computing memory that combines SRAM speed with DRAM density to alleviate the "memory wall" bottleneck. Z2RAM uses oxide semiconductor materials and plans to integrate directly above logic chips through 3D hybrid bonding. Its key selling point is the use of standard back-end processes, enabling the formation of multilayer memory structures through a single exposure without the need for extreme ultraviolet lithography (EUV), which is expected to increase density and reduce manufacturing complexity and cost. The technology is still at the laboratory prototype stage. Nagare Labs is looking for R&D and manufacturing partners and plans to launch a working Z2RAM memory chip sample within four years.
Polymarket: A trader under the pseudonym "swisstony" has accumulated profits of approximately $12.25 million.
According to data from Bihaiwang: As reported by the Financial Times, an analysis of 1.2 million accounts and 170 million transactions on Polymarket's chain since April 2026 shows that the platform's most profitable account in history belongs to a trader under the pseudonym "swisstony," with cumulative profits of approximately $12.25 million. The data shows that swisstony established 184,000 positions across 113,112 niche markets through a high-frequency algorithmic strategy, with total betting volume reaching as high as $657 million, continuously recycling capital to achieve profitability with an average per-trade return rate of only about 1.86%. Currently, the swisstony account has not opened any positions for two months and appears to have retired. The analysis shows that among users who placed bets exceeding $100, 68% ultimately ended up at a loss, with 4% of them losing their entire principal.
Nasdaq CEO: We have charged a premium for financial data delivered through MCP connectors.
According to CoinWorld news, the CEO of Nasdaq stated that Nasdaq has begun charging a premium for financial data delivered through MCP connectors and will also add AI-related services.
Iraqi Foreign Minister: We are holding consultations with Iran and Gulf countries to advance the "6+2" security plan.
Iraqi Foreign Minister Fuad Hussein stated that Iraq is continuing consultations with Iran and the six member states of the Gulf Cooperation Council to finalize the "6+2" security plan aimed at strengthening regional security and stability. Hussein advocated drawing on the EU experience to establish a common market among regional countries and promote economic integration. He noted that regional security and the economy are interconnected, and that lasting stability requires the participation of international actors, including the EU and the United States, in building the regional security architecture.