Arthur Hayes, co-founder of BitMEX and CEO of Flop Labs, is creating Flop, a cryptocurrency designed specifically for AI agents to purchase computing power directly. Unlike stablecoins, which are not tied to computational work, Flop links token issuance to useful AI inference tasks on a blockchain network where participants contribute GPUs. The project aims to build a circular economy without presales or venture capital, distributing tokens via mining and participation before launching the mainnet in early 2024. Hayes also predicts that declining AI industry profits could drive Korean retail investors back to cryptocurrencies like Bitcoin and Ethereum as AI stock enthusiasm fades.
As of Oct 19, 2026 14:41 WIB, Ethereum trades at Rp43.810.273 with a 1-day gain of 1.62%, while Bitcoin is priced much higher at Rp1.491.864.687, rising 2.14% in the same period on Pluang. Bitcoin's market cap of Rp30.077,95T far exceeds Ethereum's Rp5.370,42T, highlighting the scale difference between these two leading cryptocurrencies. This contrast in price and market cap underscores the distinct investor interest and market dynamics as AI-related crypto projects like Flop emerge.
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