Arthur Hayes States Flop Labs Has Not Issued FLOP Tokens

BitMEX co-founder Arthur Hayes stated that Flop Labs has not issued any tokens, conducted a presale, or launched any memecoins into the market. He mentioned on his X account that any assets trading under the name FLOP are not genuine. Hayes plans to announce an airdrop when distribution begins, which is expected to take place in a few months. The project's mainnet is set to launch next year. Four days ago, Hayes announced the end of his retirement and became the CEO of Flop Labs, with FLOP serving as the native currency for AI agents to pay for computing power, reasoning, and memory storage. Miners will provide computational power to execute AI tasks and earn FLOP through block rewards and transaction fees, while validators will verify the completion of work and store memories. Although Hayes claims that this issuance will be "100% fair," with no presale and venture capital allocation, Flop Labs has yet to release a white paper, tokenomics timeline, contract address, chosen blockchain, or testnet. Due to Hayes' recent market record, the project is under additional scrutiny. In June, the family office Maelstrom was accused of transferring approximately $1.92 million in CARDS tokens to a market maker just days after Hayes publicly praised the project. A few weeks ago, on-chain investigator ZachXBT reported that Hayes liquidated related positions at the latest within two weeks after endorsing tokens like HYPE, NEAR, ZEC, and WLD. Hayes responded that his sales were "to a buyer willing to buy at a price."

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