Bybit integrates with ChatGPT for trading tools; Ripple will cooperate with the Central Bank of Colombia; Tether (USDT) has lost its dollar peg.
Crypto exchange Bybit has announced that it will integrate into the artificial intelligence chatbot ChatGPT. With this integration, Bybit is preparing to leverage artificial intelligence to offer its users a range of new trading tools.
Recently, artificial intelligence has been preferred by many technology companies. ChatGPT, the artificial intelligence supported language model created by OpenAI company, has pioneered many companies. In addition, various crypto and tech companies have embraced ChatGPT within a short period of time. The last of these was Bybit.
Bybit’s ToolsGPT model is currently focused on providing technical analysis, price data and metrics by combining ChatGPT’s machine learning technology with the stock market’s market data. The integration also allows ToolsGPT to generate tailor-made answers to investors’ questions.
The exchange launched the new service to provide insights and forecasts for various cryptocurrency trading scenarios. ToolsGPT will now be able to analyze price trends based on market data for various cryptocurrencies.
According to Bybit, this service aims to provide information on price trends for crypto assets.
Some statements regarding the integration came from Bybit CEO Ben Zhou. The ChatGPT integration aims to help investors make informed decisions based on historical and real-time market data and recommendations prepared by artificial intelligence, Zhou said.
Ripple will cooperate with the Central Bank of Colombia
Ripple is preparing to guide the Central Bank of Colombia on blockchain usage areas.
The South American country has rolled up its sleeves to improve Colombia’s payment system using Ripple’s CBDC platform.
According to statements from Ripple, the company had been in talks with the Central Bank of Colombia for over a year. As a result of these talks, both sides finally announced that they are partnering to explore the uses of blockchain in the country
The crypto market has been going through tough times lately. However, Ripple continues to challenge the challenges in the market with its partnerships.
With the increasing adoption of the crypto industry, many countries have turned their focus to the use of blockchain technology. The last of these countries was Colombia.
According to the announcements, the company that will support Colombia in the use of blockchain was Ripple.
The company announced that Banco de la República will pilot Ripple’s CBDC platform to develop its high-value payment system in conjunction with the Ministry of Information and Communications Technology (MinTIC).
Tether (USDT) has lost its dollar peg!
Tether’s USDT has lost its dollar peg. Sharing a tweet in response to this, Tether CTO Paolo Ardoino said:
The markets are tense these days, so it’s easy for attackers to take advantage of this general sentiment. But at Tether we are ready as always. Let them come. We are ready to pay back any amount they want.
Tether’s Chief Technology Officer (CTO) Paolo Ardoino believes the imbalance is indicative of a broader market tension. Ardoino expressed his views on the volatile situation, attributing the increased outflows from Tether to the growing negativity in the crypto market. In the words of Ardoino, “Tether is a gateway for inbound and outbound liquidity. So when interest in crypto increases, we see entries; when sentiment in the crypto market is negative, we see exits.”
Tether CTO also says that the possibility of a direct attack on Tether should not be ruled out, an event witnessed previously in 2022.
Tether’s USDT, a stablecoin pegged to the US dollar, has lost its peg due to imbalances in the Curve 3Pool, one of the leading pools for stablecoin trading in the decentralized finance (DeFi) sector.