FUD Grips AI Crypto Sector as DoJ Investigates Nvidia

• The crypto market declined this week alongside a big selloff within the inventory market.
• AI tokens took a extra vital hit, with most of them shedding over 10%.
• Nvidia faces scrutiny by the DoJ over antitrust points.

The crypto market skilled a downturn this week, mirroring a broader selloff within the inventory market. Bitcoin’s worth dropped to $55,602 on Wednesday from a Tuesday excessive of $59,803, whereas Ethereum fell to $2,307 from a excessive of $2,553 throughout the identical interval.

Whereas main cryptocurrencies like BTC and ETH confronted vital declines, AI tokens have been hit significantly onerous, with many shedding over 10% of their worth in a brief interval. Analysts attribute this decline to an ongoing investigation into Nvidia, a number one GPU producer within the AI trade, by the US Division of Justice (DoJ).

The expansion of AI tokens over the previous eight months is carefully tied to Nvidia’s developments in AI improvement. Nevertheless, the current DoJ scrutiny has triggered a market reversal, creating concern, uncertainty, and doubt (FUD) within the AI token sector.

Learn additionally: The Way forward for AI and Web3: Insights from RSS3’s Collaboration with NVIDIA

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