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Crypto Chronicle: Unveiling Industry Insights & Updates – 12th Feb

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Deepfake scammers dupe employee, costing $25M in corporate impersonation; South Korea proposes FSC screening for crypto executives hiring; Ex-Terraform Labs CFO extradited to South Korea; Sky Mavis launches Mavis Seeds Program to train developers in Vietnam; ENS partners with GoDaddy to provide new domain name service; Messari unveils AI product for personalized crypto intelligence.

Welcome to the latest edition of our Crypto Chronicle, where we delve into the insights revealed by a recent JPMorgan survey regarding the increasing role of AI in trading, Crypto.com’s successful marketing strategies, and the Philippines’ plans for a non-blockchain CBDC.

 

  1. Institutions Double Down on AI in Trading — JPMorgan Survey

Institutional traders around the world are increasingly embracing artificial intelligence (AI) as the technology with the greatest potential to shape the future of trading. According to a recent survey conducted by JPMorgan, an impressive 61% of traders across 65 countries anticipate that AI and machine learning (ML) will become dominant forces within the next three years.

This overwhelming consensus highlights the revolutionary impact of AI on the trading landscape. Industry professionals recognize its transformative capabilities and the immense opportunities it presents for enhanced decision-making and market analysis.

 

  1. Crypto.com’s Strategic Partnerships Pay Off

Crypto.com‘s strategic partnerships with Formula 1 and the UFC have propelled its growth, reaching millions of fans globally. By leveraging high-profile advertising campaigns and sponsorship deals, Crypto.com has significantly increased its brand recognition and user base, paving the way for further expansion in the cryptocurrency market.

 

  1. Philippines Set to Introduce Non-Blockchain CBDC

The Central Bank of the Philippines is gearing up to launch a wholesale central bank digital currency (CBDC) within the next two years. Unlike other CBDC projects, the Philippines’ approach focuses on a wholesale model that involves banks.

The goal is to enhance payment and settlement systems without relying on blockchain technology. This initiative aims to boost the efficiency and effectiveness of financial transactions in the country’s economy. Notably, the CBDC will not be built on a blockchain; instead, it will operate on a payment and settlement system owned by the central bank.

Read also: CBCDs can preserve privacy for users according to a new BIS report

 

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