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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
Former Shanghai AI Lab large model lead raises hundreds of millions in funding to let AI conduct research and improve models on its own.
According to CoinWorld news, Super Evolution Intelligence, founded by Chen Kai, former head of the Large Model Center at Shanghai AI Lab, recently completed a angel round of financing amounting to hundreds of millions of yuan, led by BlueRun Ventures, with participation from SenseTime Guoxiang Capital, Legend Star, and other institutions. The company only officially began operations at the end of August this year, with the goal of building a foundation model capable of autonomously conducting research and continuously improving its own capabilities. Chen Kai previously led the development of the InternLM series of large models and has experience training trillion-parameter models. He plans to launch the first model adopting the new paradigm before mid-2027.
BONK Guy: Robinhood's strong earnings benefit the on-chain ecosystem, with PONS holding an 88% market share.
According to CoinWorld news, trader BONK Guy stated that Robinhood's earnings are positive for the on-chain ecosystem, with Robinhood Chain playing a key role in the growth of crypto business revenue, and CEO Vlad Tenev holding a positive outlook on the development of on-chain business. Currently, PONS occupies approximately 88% of the market share of Robinhood Chain's token launch platform.
Slowmist警报：Tranchepool遭攻击损失约101.3万美元USDC
According to CoinWorld news, SlowMist has issued an alert that a tranchepool associated with Valinor Digital, Oatfi, and Fence Finance appears to have been attacked, with losses of approximately $1.013 million in USDC. The root cause is that at the UTC daily rollover, the settlement logic mistakenly treated a planned principal repayment as having been received and deducted it from the outstanding principal, when in fact no USDC repayment had occurred, allowing the attacker to repeatedly withdraw the same funds using identical calldata.
Iron Fish is investigating the abnormal issuance of wiron and advises users to avoid purchasing it.
According to CoinWorld news, the privacy public chain Iron Fish officially stated that it is investigating the abnormal issuance of the wrapped token wIRON on the Base network and has requested the cross-chain bridge service provider ChainPort to conduct an emergency review. Iron Fish warned that it currently cannot guarantee that wIRON is fully backed 1:1 by native IRON tokens and advised users to avoid purchasing wIRON on the Base chain or using related cross-chain bridges until further notice. Previously, Base acquired the Iron Fish development team in March 2025 to advance the research and development of privacy protection technology for the Base network. The specific acquisition amount was not disclosed.
Market focuses on potential supply risks as oil prices rise.
Market focus on potential supply risks lifted international oil prices during the Asian session. ANZ Research analysts said in a report that although the prospect of diplomatic negotiations has eased tensions in the Middle East, it has not triggered any significant selling interest in the market, as traders are increasingly focused on what is actually happening on the ground. The analysts added that crude oil supply risks continue to rise. Saudi Arabia said it has contained a fire near its largest oil export terminal in Ras Tanura after the area came under attack.
Anthropic is developing new drugs itself: a pharmaceutical company with only one employee is advancing research on two rare diseases with the help of Claude.
According to Biji.com, Anthropic has announced the acquisition of Mithril Medicine, a pharmaceutical company with only one full-time employee that is researching two rare childhood muscular dystrophies, one of which has already achieved preliminary animal study results. Mithril founder Cody Tranbarger uses Claude to handle contracts, analyze data, schedule experiments, and coordinate 11 external laboratories, with additional support from part-time scientific advisors. After six weeks of treatment, the grip strength and muscle strength of mice in the high-dose group were approximately twice those of the untreated group. Anthropic hopes to bring the first program into human clinical trials as early as the end of 2028. At the same time, Anthropic is also collaborating with six institutions, including Bristol Myers Squibb, to evaluate research and development plans.
Coinbase confirms that data analytics provider Amplitude has experienced a security incident.
Coinbase has confirmed in its latest response that a security incident occurred at its data analytics provider Amplitude, affecting the contact information of a small subset of Coinbase customers. The company emphasized that Coinbase's own systems were not breached and that customer funds were unaffected, and it is currently notifying affected users and regulators.