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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
OpenAI plans to buy Google AI chips, Google rises over 1% in premarket trading
According to a report by Bijie.com, Caixin reported on October 28 that Google's pre-market stock price rose more than 1%. Reports say OpenAI plans to purchase Google's AI chips.
Alphabet shares rose 1.3% in premarket trading on rumors that OpenAI will acquire Google's AI chips.
CoinWorld news, according to Reuters, Alphabet shares rose 1.3% in pre-market trading following reports that OpenAI plans to acquire Google's AI chips.
A bizarre repository deletion unfolded on GitHub: a company acquired by Anthropic cleaned up its code, making customers' code vanish within two seconds, and was briefly thought to be a hacker intrusion.
A bizarre repository deletion incident unfolded on GitHub, where Stainless, a company acquired by Anthropic, cleaned up its code, causing customer Dodo Payments' code to vanish within two seconds, and the team briefly believed it had been hacked. The incident occurred on October 27, when Stainless deleted a private repository, which as a result also deleted Dodo's private fork. GitHub's rules stipulate that when a private repository is deleted, all private forks under it are also deleted along with it. Dodo's audit logs showed that only one external person executed `repo.destroy`, with no indication that it was a cascading operation triggered by an upstream repository deletion. Co-founder Ayush Agarwal could not find any authorization record for that person, and the repository was not on the recoverable list either. Fortunately, Dodo had a local copy of the code and eventually re-uploaded it as an independent repository, and the SDK is back up and running. Agarwal hopes GitHub will clearly indicate the reason for upstream repository deletion in audit logs, and reminds other Stainless customers to convert private forks that still depend on the upstream repository into independent repositories as soon as possible.
Alphabet shares rise over 1% in premarket trading as OpenAI plans to purchase Google AI chips.
Alphabet (GOOG.O) rose more than 1% in pre-market trading. It was previously reported that OpenAI plans to purchase Google's AI chips.
JPMorgan: Gold faces downside risk, and a U.S. stock rebound must clear three major hurdles.
Jiemian News reports: JPMorgan said gold still faces downside risk as liquidity remains thin and there is still room for interest rates to rise. Morgan Stanley noted that the next round of U.S. stock market rebounds still needs to overcome three major hurdles: AI financing, election risks, and liquidity. Deutsche Bank believes that U.S. stocks may be at the low point of the last decline of the year, and a year-end rally is expected to begin. BlackRock warned that the energy shock will leave long-term scars on the European economy. BMO expects the Federal Reserve to signal a hawkish pause, with several officials possibly dissenting. Jefferies expects Fed Chair Warsh to focus on credibility. Standard Chartered believes that the simultaneous rise in U.S. stocks and U.S. Treasury yields is positive for risk-sensitive currencies. Capital Economics pointed out that weak credit demand in the euro area signals growth risks. Westpac expects the Reserve Bank of New Zealand to continue raising rates this week, with the rate possibly rising to 3.5% in February next year. A French asset management company said economic data would have supported a Fed rate hike, but the Fed is still expected to stand pat.
Yann Allemann: Some investors have unrealistic expectations for stablecoin yields.
Bitwise's Yann Allemann says some investors still expect a 20% stablecoin yield with no risk and instant liquidity.
Toyota Financial Services completes its first publicly offered self-underwritten security token corporate bond.
CoinWorld news, according to nada news, Toyota Finance completed the Toyota Group's first publicly offered self-solicited security token (ST) corporate bond, the "Toyota Wallet Kizuna Bond," on October 27. The one-year digital corporate bond has an issuance amount of 1 billion yen, an annualized interest rate of 1.720%, and a minimum subscription threshold of 100,000 yen. The final subscription scale exceeded the plan by more than 10 times, with allocation determined by lottery. This issuance bypasses brokerage intermediaries, allowing retail investors to purchase directly through its e-wallet application without opening a securities account, aiming to achieve direct binding of the issuance with ecosystem benefits such as track tickets and car purchase subsidies.
On-chain analyst AI Yi: A certain whale appears to have sold off $12.41 million worth of ETH holdings over the past half month.
CoinWorld data: According to on-chain analyst AI Yi's monitoring, a certain whale appears to have sold off ETH holdings worth $12.41 million over the past half month. The address held 5,160 ETH with an average withdrawal cost of $2,433. The last deposit occurred 1 hour ago, transferring 2,252 ETH to OKX, worth approximately $5.29 million. If all were sold, it would result in a loss of $148,000.