Crypto Market Struggles: AI Tokens See Lowest Trading Volume of Year

• SEC cautions accounting firms against accommodating non-compliant crypto clients
• Sam Altman claims Worldcoin is onboarding eight users per second
• Prosecutors withdraw campaign finance charges against Sam Bankman-Fried

SEC Warns Accounting Firms of Non-Compliant Crypto Clients

The U.S. Securities and Exchange Commission (SEC) has warned accounting firms to be wary of accommodating cryptocurrency clients who are not compliant with the agency’s regulations. This comes after SEC chairman Gary Gensler warned that the crypto space is „rife with fraud; rife with hucksters.“

Sam Altman Claims Worldcoin Onboarding Eight Users Per Second

Y Combinator president Sam Altman recently claimed that the blockchain project Worldcoin was onboarding eight new users per second, though this claim remains largely unsubstantiated. Meanwhile, prosecutors have dropped all campaign finance charges against Sam Bankman-Fried, founder of FTX exchange and Alameda Research.

AI Tokens See Lowest Weekly Trading Volume This Year

Data analytics firm Kaiko reported a record low in weekly trading volume for AI tokens such as (FET), Injective (INJ), Oasis Network (ROSE), Render (RNDR), SingularityNET (AGIX), and The Graph (GRT). CryptoSlate data also reflects a relatively flat performance among the top five AI coins by market cap, indicating they have mostly recovered their losses from the previous week.

$125M CoinDesk Deal May Be in Final Stages

It appears that a potential $125 million deal between CoinDesk and an unnamed buyer may be in its final stages of negotiations. Given the current state of the cryptocurrency industry, this could be seen as a sign of increased confidence in the sector among investors and institutions alike.

Conclusion: Despite Struggles, Confidence Remains High

Despite some setbacks for individual projects or tokens within the crypto space due to decreased trading activity or legal issues, there still appears to remain a high level of confidence in cryptocurrencies overall – evidenced by deals like CoinDesk’s potential $125 million sale to an unknown buyer.