Arthur Hayes

3 months agoNews Editor

Arthur Hayes: Keep AI Agents Creating DID Keys on Technocore; FLOP Adds More Incentives

BitMEX co-founder Arthur Hayes said users should keep letting their AI agents create dedicated DID keys on Technocore.chat, according to BlockBeats. FLOP Labs plans to announce more AI agent collaboration methods next week and hand out additional FLOP airdrop allocations to participants. The project aims to connect AI agents' effective participation in the ecosystem with financial incentives, ensuring valuable contributions earn rewards.

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Arthur Hayes

3 months agoNews Editor

Arthur Hayes says tokenomics AMA is tentatively set for next Wednesday

Arthur Hayes is tentatively scheduled to host an AMA on tokenomics next Wednesday from 9:00 to 10:30 UTC+8, according to a post shared by @CryptoHayes on X. The session is set to run on X Spaces and YouTube, giving community members two channels to join the live discussion and interact during the event. Hayes is the co-founder of BitMEX and currently serves as chief investment officer of family office Maelstrom. The planned discussion will focus on the details of token economic model design, with tokenomics as the central topic throughout the session. No additional agenda items were disclosed in the announcement.

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Arthur Hayes

3 months agoNews Editor

Arthur Hayes says Flop Network is building a currency for AI agents to buy compute

BitMEX co-founder Arthur Hayes used an Altcoin Daily podcast appearance to lay out the thesis behind Flop Network, a project that aims to make FLOP the native currency for AI agents. Hayes argued that today’s AI products bill users in tokens, yet there is no unified standard for what a token represents across models and no global market that clearly prices raw compute in a verifiable way. His answer is to anchor value to FLOPs, or floating-point operations, and build a decentralized network where compute can be requested, supplied and ultimately paid for with a native asset. Hayes said Flop Network is designed around two needs he believes AI agents will have: access to compute and the ability to store memory or context without asking permission from a centralized intermediary. He described the protocol as a “Proof of Useful Inference” blockchain, where miners complete inference tasks measured in FLOPS and receive token rewards. Rather than sell the token early, he said the team plans to distribute it through network participation, with about 20% of the projected 10-year supply currently earmarked for airdrops, subject to change. He also outlined an early roadmap. Testnet is expected to go live sometime in late October this year, run for about 90 days, and, if there are no major issues, be followed by a mainnet launch in the first quarter of next year. Hayes said FLOP is not available for sale now and warned that anyone claiming otherwise is running a scam.

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Arthur Hayes

3 months agoNews Editor

Arthur Hayes Renews Bullish Call on ENA, Says Basis Trade Return Is a Positive Signal

BitMEX founder Arthur Hayes has again voiced optimism on ENA, saying over-the-counter brokers have started reaching out to ask about borrowing dollars, which he described as a sign that the basis trade is returning. Hayes said interest rates are still too low, but argued that the shift is constructive for ENA and that the token has substantial upside. The latest remarks follow his earlier purchases this month, when he accumulated 22.64 million ENA worth about $2 million. Earlier in the month, Hayes also said that if rising U.S. dollar liquidity helps push BTC higher, a recovery in bitcoin basis yields could draw capital back into USDe. He added at that time that ENA could have the potential to rise fivefold over the coming months. Despite that view, HTX market data showed ENA was down 7.1% over the past 24 hours, trading at $0.15.

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BitMEX

3 months agoNews Editor

BitMEX to switch to reduce-only mode on Aug. 26, shut down trading on Sept. 23

BitMEX said it will move into a reduce-only risk restriction mode at 04:00 UTC on Aug. 26, limiting users to closing or cutting existing positions and blocking any new ones. In a separate notice, the exchange said all trading services are scheduled to stop permanently at 04:00 UTC on Sept. 23. BitMEX described the move as part of a voluntary and orderly wind-down process following a strategic review. The exchange also urged users to monitor open positions and review withdrawal procedures and deadlines during the transition period. The update was carried by Techub, which cited an official notice from BitMEX. The report also noted that BitMEX was once one of the most influential platforms in the crypto derivatives market.

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Jackson Hole

3 months agoNews Editor

Crypto Week Ahead: Jackson Hole, Nvidia Earnings, and a Packed Calendar of Upgrades and Platform Changes

The week of Aug. 24 to Aug. 30 features a dense slate of events for crypto traders and market watchers, spanning regulation, protocol upgrades, exchange changes, court proceedings, and macro catalysts. On Aug. 25, the European Union’s expanded crypto restrictions on Belarus are set to take effect for all Markets in Crypto-Assets Regulation, or MiCA, service providers, while BNB Chain plans to activate its Pasteur hard fork and Conflux Network moves forward with a v3.1.0 upgrade. Binance also said it will suspend deposits and withdrawals on the Conflux Network on Aug. 25, 2026 to support that hard fork. Aug. 26 is led by Hyperliquid’s AQAv2 revenue accrual launch, which the project says could channel as much as $200 million into HYPE buybacks and burns over time. The same day, BitMart is scheduled to shut down all trading services, BitMEX will begin applying risk limits ahead of its Sept. 23 closure, and Coinbase will halt perpetual futures trading for 10 tokens including MEME, SAND, BLUR, AXS, and ZRO. On Aug. 27, attention shifts to macro and public markets as the Jackson Hole central bank symposium opens, the Bank of Korea releases its rate decision, and Nvidia reports fiscal 2027 second-quarter earnings. That date also brings a first-instance ruling in Bithumb’s mistaken Bitcoin distribution case and the shutdown of EulerFinanceBot’s TAC Telegram mini app. Later in the week, DeFi Kingdoms’ DFK Chain is set to stop running on Aug. 28.

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Arthur Hayes

3 months agoNews Editor

Arthur Hayes says ETH is his biggest position after Bitcoin

Arthur Hayes, co-founder of BitMEX and head of Maelstrom, said ETH is the largest holding in his portfolio outside of Bitcoin. He described Ether as the second-largest token by market capitalization that still has not broken above its 2021 all-time high, arguing that its risk-reward profile stands out against other crypto assets. In Hayes’ view, ETH carries a much lower risk of going to zero than many alternatives, which is why he is comfortable holding a large position. He also said Ether has posted relatively limited gains in the current cycle, leaving room for catch-up. If momentum kicks in, Hayes expects a reflexive move higher. He added that once ETH clears the $3,000 level, it could move quickly to above $5,000, bringing his year-end target within reach. Hayes also said many investors still want long exposure to ETH for a range of reasons.

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Arthur Hayes

3 months agoNews Editor

Arthur Hayes returns as Flop Labs CEO, backing an AI agent economy play

Arthur Hayes said on Aug. 18 that he is coming out of retirement to become CEO of Flop Labs, a new project built around what it calls fuel for the AI agent economy. The team says Flop Network is designed for a future in which AI agents autonomously perform tasks, trade with one another, and pay for compute, memory storage, and retrieval with the native token, FLOP. Instead of traditional hash-based mining, the project proposes a model where miners provide real AI inference power and are rewarded for carrying out useful inference tasks. So far, public disclosures remain limited. Flop has published a landing page, three application forms, and a project overview graphic, but has not released a white paper, tokenomics, a contract address, or a clear explanation of the underlying chain and technical implementation. Its roadmap points to a large-scale airdrop in the fourth quarter of 2026 and a genesis block in the first quarter of 2027. Hayes’s involvement has also drawn scrutiny because he had repeatedly warned about an AI infrastructure bubble in 2026. He said his criticism was aimed at debt-fueled data center expansion and inflated valuations tied to AI infrastructure, not the agent economy itself, which he said he believes in “100%.”

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