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On April 27, Bitget revealed its commitment of $10 million towards the advancement of the Fetch.ai ecosystem.
Bitget intends to offer a variety of services to Fetch.ai, which include marketing advice and strategic guidance.
Fetch.ai delivers an infrastructure for service automation that is driven by a network of AI agents. These independent agents carry out numerous tasks, such as data analysis and intricate financial modeling.
This initiative is the latest effort to capitalize on the AI surge fueled by platforms like ChatGPT.
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Bitget Investing Significantly
Gracy Chen, Managing Director of Bitget, remarked that Fetch.ai already encompasses a range of functional and applicable technological AI solutions, further stating:
“That is the primary reason we have chosen to extend our support to this promising startup and will continue to do so as we discover others in need of assistance from our dedicated fund.”
Humayun Sheikh, founder and CEO of Fetch.ai, expressed that the potential for integrating blockchain with AI is boundless.
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Fetch.ai employs decentralized machine learning algorithms to offer its users a variety of innovative software solutions.
On April 10, Bitget announced a $100 million venture fund aimed at investing primarily in Asian Web3 and crypto initiatives.
The goal is to “promote a positive outlook towards the digital currencies economy and support the growth of the web3 ecosystem,” the firm stated at that time.
Founded in 2018 and based in Seychelles, Bitget is currently ranked 8th for trust score, according to CoinGecko. The exchange processes $735 million in daily trading volume, provides 548 crypto trading pairs, and claims to have 8 million users.
The exchange’s native token, BGB, surged by over 4% following the announcement. In contrast, there has been minimal movement for the Fetch.ai FET token, which was trading at $0.347.
JPMorgan Utilizes ChatGPT
Wall Street banking powerhouse JPMorgan is also interested in AI solutions. On April 27, it was reported that the bank had created an AI tool based on ChatGPT capable of analyzing Federal Reserve policy statements.
This tool generates a “Hawk-Dove Score,” allowing bank analysts to identify potential trading signals.
The system can forecast central bank monetary policy tightening and is currently leaning hawkish. The Fed is anticipated to increase interest rates by 0.25 basis points next week as it confronts high inflation.
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