The post US President Joe Biden Signs Executive Order to Facilitate AI Infrastructure Development appeared first on Coinpedia Fintech News
Less than a week to the highly anticipated inauguration of pro-crypto US President-elect Donald Trump, the outgoing POTUS Joe Biden has made a strategic move to ensure the growth of artificial intelligence (AI) infrastructure. In a January 14 statement release, President Biden signed an executive order to accelerate the speed of developing AI infrastructure.
The latest executive order on AI technology directs the Department of Defense (DoD) and the Department of Energy to lease federal sites to private entities to build AI infrastructure at speed and scale.
“Building AI infrastructure in the United States is a national security imperative. As AI’s capabilities grow, so do its implications for Americans’ safety and security,” the Whitehouse noted.
This is not the first-of-a-kind executive order directed toward the AI industry. Back on October 30, 2023, President Biden issued an executive order to establish new standards for AI safety to ensure a trustworthy development and adoption.
Impact on the Cryptocurrency Industry
The use of AI technology in the blockchain industry has significantly grown in the past year. According to the latest market data as of this writing, the crypto tokens focused on the AI industry had a total market cap of more than $43 billion and a 24-hour average trading volume of about $4.5 billion.
The crypto tokens focused on AI agents have grown to a market cap of about $13.5 billion and a 24-hour average trading volume of about $2.9 billion. The top AI meme coins have grown to a market valuation of $7.4 billion and a daily average traded volume of about $2.4 billion led by ai16z (AI16Z).
The further developments of AI infrastructure in the United States ahead of the pro-crypto government under U.S. President Donald Trump will be a huge game changer to the AI-focused crypto projects.