Latest Crypto News: Traders Shift Focus From Blockchain To AI, FTX Asks Politicians to Return Donations

Here are some of the latest developments from the world of crypto
Latest Crypto News: Traders Shift Focus From Blockchain To AI, FTX Asks Politicians to Return Donations

Global financial services giant JP Morgan surveyed institutional traders and found that artificial intelligence (AI) and machine learning will be four times more influential than blockchain and distributed ledger technology over the next three years.

In last year's survey, mobile trading applications came in first, with the support of 29 per cent of institutional traders. The latest survey of 835 institutional traders in 60 global markets indicates that AI dwarfs every other major technology category, with a citation rate of 53 per cent, far ahead of API integration (14 per cent) and blockchain (12 per cent).

The technology category that won the top spot in 2022- mobile apps, fell to 7 per cent, decrypt reported. Quantum computing and natural language processing also saw a drop.

According to JP Morgan, 72 per cent of traders "have no plans to trade crypto [or] digital coins," with 14 per cent planning to start trading within five years.

FTX Wants Politicians, PACs to Return Donations—And May Sue to Recover Funds

A bankrupt crypto exchange, FTX , announced Sunday that it wants its money back after millions of dollars were funnelled to candidates and action committees under the direction of its founder CEO Sam Bankman-Fried.

FTX's newly-appointed CEO, John Jay Ray III, was installed to oversee the exchange's Chapter 11 bankruptcy after it collapsed in November and had earlier called for donations linked to the exchange to be returned.

On Sunday, however, the company issued a firmer statement that "contributions or other payments " must be returned by 28 February, reported decrypt. It echoed a previous warning that the company would go after funds not returned voluntarily through legal means "with interest accruing from the date any action is commenced."

"The FTX Debtors are sending confidential messages to political figures, political action funds, and other recipients of contributions or other payments," the company's official statement said.

Google Invests $300 Million in AI Firm Previously Funded By Sam Bankman-Fried

Google Cloud reportedly invested $300 million into artificial intelligence (AI) startup firm Anthropic, which also received over $500 million in funds from former FTX CEO Sam Bankman-Fried about six months before FTX catastrophically collapsed.

"We're excited to use Google Cloud to train our AI systems, including Claude!" Anthropic reported.

Anthropic confirmed its partnership with Google Cloud on 4 February, the same day the Financial Times reported the $300 million figure. Google Cloud received about a 10 per cent stake in Anthropic, Financial Times reported. Meanwhile, Bankman-Fried is under house arrest at his parent's home in California until his upcoming trial on 2 October 2023.

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