The U.S. Commodity Futures Trading Commission (CFTC) has formed a new innovation committee to guide the regulation of emerging technologies, including artificial intelligence (AI) and blockchain. Announced by CFTC Chair Mike Selig, the committee replaces the previous Technology Advisory Committee and will include top crypto industry experts. Selig will sponsor the committee and intends to nominate CEOs from major firms such as Gemini, Polymarket, Kalshi, Crypto.com, and Kraken to provide guidance. The committee will also seek input from academia, public interest groups, and other regulatory bodies.
This regulatory development coincides with significant market attention on the AI-powered crypto project DeepSnitch AI ($DSNT). The project has raised over $1.16 million in its Stage 4 presale, with tokens priced at $0.03401 ahead of a planned late-January launch. The project's momentum is attributed to its live AuditSnitch feature, which allows traders to instantly audit smart contracts for risks like honeypots and rug pulls. The community has staked more than 29 million tokens, creating a potential supply shock.
Market narratives are comparing DeepSnitch AI's potential to the recent performance of River ($RIVER), which surged approximately 250% over 14 days as of January 12th. River's 24-hour trading volume increased by 80% to nearly $52 million during that period. Meanwhile, other major assets showed mixed signals: Cardano ($ADA) saw a 127% spike in trading volume to over $510 million but its price declined 3% over the week, and XRP faced selling pressure around $2.05.
Separately, Federal Reserve Chair Jerome Powell publicly criticized a criminal investigation initiated by the U.S. attorney for Washington, D.C., into the Fed's headquarters renovation, calling it an attempt to undermine the central bank's independence on interest rates. This political tension forms a backdrop of institutional scrutiny affecting financial markets.
