While discussing last year’s Q4 results for Galaxy Digital, Michael Novogratz said that the US authorities are “totally inadequate” in regulating cryptocurrencies while turning a blind eye to the booming AI field.
“When I look at the development of AI, I am shocked. We talk so much about the regulation of cryptocurrencies, but we never touch on the regulation of AI. I mean, the authorities have turned everything upside down and are inadequate in these areas.”
Novogratz said he feared a significant development of “deepfakes” – the forgery of the identity of Internet users. And it is blockchain and cryptocurrencies that can become a way to combat identity forgery.
“Cryptocurrencies and blockchain will play a huge role in combating these threats. It is foolish to think that Sam Bankman-Fried and his Bermuda shenanigans will put an end to the entire industry,” Novogratz said.
Earlier, Michael Novogratz said that the economic and banking crisis in the United States is playing into the hands of the cryptocurrency industry and attracting new investors to bitcoin.
Source: Bits
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