Arthur Hayes takes CEO role at Flop Labs ahead of Q4 airdrop

cointelegraphPublished on 2026-08-19Last updated on 2026-08-19

Abstract

Arthur Hayes, co-founder of BitMEX, has come out of retirement to become the CEO of Flop Labs. The company is developing a network where AI agents will use its native FLOP token to pay for computing and inference services. Hayes announced plans for a "massive airdrop" of the FLOP token in Q4 2026, ahead of the network's genesis block launch in early 2027. He stepped down as BitMEX CEO in 2020, and the exchange recently announced it will shut down in September 2026.

BitMEX co-founder Arthur Hayes said he would lead Flop Labs and updated his X profile to identify himself as the company’s CEO. Flop Labs is developing a proposed network through which AI agents would pay for computing and other services.

“I’m coming out of retirement to lead @flop_labs,” Hayes said in a Tuesday X post.

Cointelegraph has approached Hayes for comment and asked whether this position would affect his existing role as chief investment officer of Maelstrom Fund.

Hayes said Flop plans a “massive airdrop” in the fourth quarter of 2026, before the network’s genesis block launches in early 2027. Further details will be announced later.

Flop brands itself as a “proof-of-useful-inference protocol founded by Arthur Hayes,” in which AI agents spend the protocol’s native Flop (FLOP) token for inference and decentralized memory services.

Hayes co-founded cryptocurrency exchange BitMEX in 2014 but stepped down from his role as CEO in October 2020. In July 2026, BitMEX announced that it would shut down its exchange on Sept. 23.

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Related Questions

QWho has taken on the CEO role at Flop Labs according to the article?

AArthur Hayes, the co-founder of BitMEX, has taken on the CEO role at Flop Labs.

QWhat is the proposed purpose of the network Flop Labs is developing?

AFlop Labs is developing a network through which AI agents would pay for computing and decentralized memory services using its native FLOP token.

QWhen does Flop Labs plan to conduct a 'massive airdrop' and when is its network genesis block scheduled?

AFlop Labs plans a massive airdrop in the fourth quarter of 2026, with its network genesis block launching in early 2027.

QWhat position did Arthur Hayes hold at Maelstrom Fund, and was there a question about its continuity?

AArthur Hayes holds the position of chief investment officer at Maelstrom Fund. The article mentions that Cointelegraph asked him whether his new CEO role at Flop Labs would affect this existing position, but his response is not provided.

QWhat happened to BitMEX, the exchange co-founded by Arthur Hayes, in July 2026 according to the article?

AIn July 2026, BitMEX announced that it would shut down its exchange on September 23 of that year.

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