Hayes Disowns Fake FLOP Tokens as Real Airdrop Looms
Arthur Hayes, co-founder of BitMEX, is warning that any token trading under the name FLOP today is not legitimate. In a series of posts on X, Hayes clarified that Flop Labs has issued no token, run no pre-sale, and put out no memecoin.
Hayes, who recently announced his return to running Flop Labs as CEO, stated that the real FLOP token will provide a missing payment system in what he calls the 'agentic economy.' The token is expected to be used as 'food for your AI agent,' allowing autonomous software to spend on computing power, inference, and memory storage.
The launch of the FLOP token has been met with skepticism due to Hayes' trading history. His family office, Maelstrom, was accused of moving $1.92 million worth of CARDS tokens just days after Hayes publicly endorsed the project. Additionally, Hayes was accused of exiting positions in various tokens shortly after endorsing them.
Hayes has repeatedly stated that the launch of FLOP will be a '100% fair' with no presale and no venture-capital allocation. However, Flop Labs has yet to publish a whitepaper or any other crucial information about the token. Hayes said the team was still speaking with interested parties and would start rolling out infographics, including tokenomics.