Bitget Exchange Invests $10M in Fetch.ai AI Ecosystem

On April 27, Bitget announced that it had pledged $10 million to develop the Fetch.ai ecosystem.

Bitget plans to provide a range of services to Fetch.ai, including marketing advice and strategic guidance.

Fetch.ai provides service automation infrastructure powered by AI agent network. These independent agents perform various tasks, including data analysis and complex financial modeling.

The move is the latest to capture the AI ​​boom led by platforms like ChatGPT.

BitGet pledges $10 million to Foster https://t.co/kJ9URVpOul environmental system”

Exciting news! A strategic partnership has been established between https://t.co/kJ9URVpOul And @employee with plans to pay #ai The ecosystem as well 👀

Read more details 👇https://t.co/yYAxgEXjIR pic.twitter.com/TcE7kUUf3B

– Fetch.ai (Fetch_ai) April 27, 2023

Bitget spending big

Bitget Managing Director Gracy Chen commented that Fetch.ai already consists of a set of working and viable AI technology solutions before adding:

“This is the main reason we decided to pledge our support to this promising startup and we will continue to do so while we identify others who need assistance from our dedicated fund.”

Humayun Sheikh, Founder and CEO of Fetch.ai, said the opportunities for applying blockchain to AI are limitless.

Fetch.ai uses decentralized machine learning algorithms to provide its users with several innovative software solutions.

On April 10, Bitget announced a $100 million investment fund focusing primarily on investing in Asian Web3 projects and cryptography.

The aim is to “foster a positive attitude towards the cryptocurrency economy and support the development of the Web 3 environment,” the company said at the time.

Seychelles based Bitget was founded in 2018 and is currently ranked 8^y For a confidence score, according to CoinGecko. The exchange handles $735 million in daily trading volume, offers 548 cryptocurrency pairs, and claims to have 8 million users.

The exchange’s parent token, BGB, jumped more than 4% after the news broke. There was a bit of movement for the Fetch.ai FET token, which changed hands for $0.347.

JPMorgan makes fun of ChatGPT

Wall Street banking giant JPMorgan is also keen on AI solutions. On April 27, it was mentioned The bank has developed a ChatGPT-based artificial intelligence tool that can analyze Fed policy data.

The tool derives “Hawk-Dove score”, which enables bank analysts to spot potential trading signals.

The regime can expect the central bank to tighten monetary policy and is mostly hawkish at the moment. The Fed is expected to raise interest rates by 0.25 basis points next week as it battles high inflation.