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A.I. Coins See Recovery and BitDAO Merges with Mantle Network

May 19, 2023
Author
JB DeGroft
JB DeGroft
Market Update After bleeding lower this morning, crypto markets and gold saw relief immediately following Janet Yellen's statement to bank CEOs that "more mergers may be necessary." At the time of writing, $BTC is up 0.12%, $ETH is up 0.72%, and gold is up 1.07%. While most altcoins continue to underperform, AI-related coins have been standouts the past few days. AI coins SingularityNET ($AGIX) and Fetch.ai ($FET) are up 18.49% and 10.35%, respectively. These coins were among the top performers of Q1 2023 before cooling off most of Q2. Traditional markets are down slightly on the day, SPX fell 0.09%, and NDQ fell 0.22%. Digital asset financial services firm, Hashkey Group, is looking to raise $100 to $200 million at a $1 billion valuation. This comes after a ~$500M raise in January of this year. Hashkey plans to use this funding to invest in the Web3 ecosystem and expand to Hong Kong, which has seen a rise this year as a potential crypto hub. While the U.S. has been increasingly cracking down on crypto, Hong Kong has proposed more welcoming regulations that it hopes will attract talent and capital. Hong Kong is allowing retail traders to trade certain digital assets (replacing a 2018 framework that only allowed accredited investors) and creating a favorable environment for c

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