IlluMyFi

Two CEOs of spot Bitcoin ETF applicants have come forward to state that they believe their firms' ETFs should start trading on Thursday, according to recent media appearances made by the crypto executives. When asked whether he believed trading would start for his firm's spot Bitcoin ETF on Thursday during a Tuesday morning appearance on CNBC, VanEck CEO, Jan van Eck, replied "yeah." Similarly, Valkyrie co-founder and CIO Steven McClurg told The Block that he expects "the SEC will deem the ETFs effective at close of business Wednesday and the trading to begin on Thursday morning." McClurg and van Eck's comments come amidst recent statements posted on X by SEC chair Gary Gensler related to cryptocurrency investments. On January 8th, Gensler published an original post on X featuring details about "things to keep in mind if you're considering investing in crypto assets." "If you're considering an investment involving crypto assets, be cautious," wrote Gensler in an additional post on January 9th. "Crypto asset securities may be marketed as new opportunities but there are serious risks involved." Moreover, Gensler's post linked to a post on investor.gov about buying and investing cryptocurrency with a stringent warning about the SEC's role in regards to recovering cryptocurrency. "You should understand if you lose money there is a real chance the SEC and other regulators won't be able to help you recover your investment, even in cases of fraud," the post reads in part. Numerous social media users replied to Gensler's posts, taking them as a nod to potential upcoming spot Bitcoin ETF approval. "Tell me you're about to approve the Bitcoin ETFs without telling me you're about to approve Bitcoin ETFs," wrote one user."Sounds like the ETF is a done deal," wrote another. On Tuesday morning, Bitcoin's 50-week moving average crossed above its 200-week moving average, creating the bullish indicator called a "golden cross" amidst spot Bitcoin ETF approvals. Meanwhile, a number of spot Bitcoin ETF hopefuls significantly dropped their proposed management fees in hopes of beating out their competitors, yet another sign of imminent approval. "I know there's been a lot of noise but just in case anyone has been living under a rock -- we're in that Jan 8th-10th window that many of us have had our eyes on," stated senior ETF analyst James Seyffart. "Bitcoin ETFs are knocking on the door of SEC approval." The post CEOs of Spot Bitcoin ETF Hopefuls Expect Trading to Begin Thursday appeared first on Cryptonews.

Sentiment

Bearish/Bullish

13.01.24 01:45

by cryptorank.io

The Future of AI is Here and Now: Creed&Bear CTO Flavio Villa | Projects | Crypt...

The past couple of years have witnessed the cropping up of AI solutions across various sectors. Businesses have been leveraging AI tools to reduce costs, increase efficiency, and occasionally improve bottom lines. In a survey Forbes ran on the application of AI in the workforce, a whopping 64% of respondents anticipate that AI will improve customer relationships and increase productivity, while 60% believe that it will drive sales growth. With the prospect of AI solutions being hardwired into business processes today, we sat down with Flavio Villa, Chief Technology Officer of MENA-based fintech company Creed&Bear, to learn more about the potential and applications of AI in financial services and how Creed&Bear is poised to capitalize on it. I believe that there will be stronger regulations surrounding generative AI and that the world will be taking them more seriously. I think everyone's going to have an AI-driven competitive advantage, and that's good. That'll eventually push for more innovation. In FinTech especially, AI will speed up the most repetitive, manual, and time-consuming work and also improve the probability of good quality output being generated. What we have developed at Creed&Bear is basically an AI engine that is able to run on different data sets, which is currently being applied to crypto, but it can also be used to study weather data or other kinds of data sets. So yes, we are able to scale our technology and our vision outside the traditional sectors because the capability of our AI to understand, process and clean data is unfathomably huge. We have already explored the possibility of using our AI core engine outside the traditional sectors. For example, we ran a test where we were able to calculate the performance of a famous football player (from a very important football team) at their next match with very precise accuracy. The concept of blockchain as we know it today will change completely in the future. The reason is the technology behind it, it's moving faster than the adoption. For example, one year ago the world was talking about NFTs and how it was so technologically advanced that it could transcribe the real world to digital. But today, we talk about generative AI the same way. In short, we know that blockchain technology will move fast and that the change in this space is constant. We position ourselves as a leader by prioritizing one aspect of our business: Investing in the research and development of AI and ML. Its adoption is picking up steam in the financial world. The global market for artificial intelligence in asset management was worth about $2.6 billion in 2022 and is expected to expand at a compound annual growth rate of 24.5% from 2023 to 2030. That's a great indicator of adoption. Of course, at Creed&Bear, we're already a few steps ahead, but we want to be light years ahead. Our AI-powered data analysis helps us extract meaningful insights from up to 40 GB of data every second, but the thing is, that number continues to grow. I'm...