Flop targets AI agent payments as Arthur Hayes sees Ether at $10,000 by year-end

AI agents need a dedicated cryptocurrency payment network that lets them purchase computing power directly, according to Arthur Hayes, who argues that stablecoins are unlikely to become the core currency of the agent economy because they are not directly tied to compute. In an Oct. 17 CoinDesk interview, the BitMEX co-founder, Maelstrom chief investment officer and Flop Labs CEO said he is developing Flop, a cryptocurrency designed for AI agents to spend directly on computational work. Flop Labs is building a proof-of-useful-inference blockchain based on principles pioneered by Bitcoin. Participants contribute GPUs to process inference requests from AI agents and mine Flop, which agents can then use to purchase compute. Hayes said agents need a purpose-built payment network if they are to communicate and exchange value for work.

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