A new AI tool named Satoshi is set to revolutionize the world of crypto trading, allowing traders to optimize their strategies and get personalized advice based on their portfolios. Developed by FalconX, the new AI assistant has been created using ChatGPT technology, the same system popularly used by algorithmic trading firms to generate portfolio-specific strategies tailored to their investments. It is currently undergoing development with the help of OpenAI, a company that creates large language models, which are able to identify patterns from training data and respond to certain queries.

The AI assistant Satoshi is designed to give everyday traders the same advantages that traditional companies have when it comes to trading software. It is capable of monitoring social media for asset information or questions relating to a given portfolio's performance. Additionally, it is intended to give the estimated cost of different transactions, such as short positions or bulk buying of crypto. However, it will need to be able to address counterparty risk issues and combat suggestions of incorrect information that could lead to potential losses.

The advent of Satoshi has closely followed the joint publishing of a letter proposed by various big-name tech players, including Tesla's CEO Elon Musk, which calls for regulation of AI training initiatives such as with OpenAI's GPT-4 model. This petition has already achieved more than 10,000 signatures. Nevertheless, due to privacy concerns, OpenAI has recently imposed restrictions on the processing of user data.

Furthermore, the Montana Securities regulator has recently disclosed the stopping of YieldTrust, a popular AI-based trading tool that boasted incredibly high gains of over 2.2% daily staking rewards and 25% more than a human-based trader. The reason for this halt is in relation to evidenceless claims of YieldTrust trying to dupe customers into investing, demonstrating the importance of accurate and informed AI decision-making. The respondent has seven days to respond to the court order in order to avoid being permanently banned from the service.

Overall, the advent of Satoshi is set to revolutionize the world of crypto trading and equip traders with the software to make the most out of their portfolios. However, the importance of AI-based accuracy and transparency is evident with the order against YieldTrust, demonstrating the attention traders need to pay in order to remain safe.



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