The U.S. Commodity Futures Trading Commission (CFTC) has warned cryptocurrency traders to not rely on synthetic intelligence (AI) buying and selling bots for large income in 2024.
In a current assertion, the CFTC suggested traders to be cautious of exaggerated advertising and marketing claims about AI bots delivering astronomical yields. CFTC’s Melanie Devoe stated fraudsters are exploiting social media hype and novice traders ought to analysis suppliers earlier than trusting cash to buying and selling bots.
This warning comes after a number of states accused YieldTrust.ai of working a Ponzi scheme in 2023, alleging its AI bot didn’t exist. Major exchanges discover AI purposes, like Bitget’s advisor bot, however the know-how’s limitations persist.
ChatGPT informed Cointelegraph that AI might support crypto evaluation and methods however couldn’t predict costs. The CFTC reiterates that regardless of surging reputation, AI can not foresee the longer term and traders ought to keep away from its empty guarantees this 12 months.
Also Read: CFTC Accuses Debiex of $2.3 Million Romance Scam
https://www.cryptotimes.io/2024/01/28/cftc-cautions-against-relying-on-ai-crypto-bots/
