AI-related tokens generally fell as Biden signed an executive order to comprehensively regulate artificial intelligence research and development.

U.S. President Biden signed a new executive order on October 30, seeking to reduce the risks posed by artificial intelligence (AI) to consumers, workers, minorities and national security. The executive order requires developers of artificial intelligence systems that pose a risk to U.S. national security, the economy, public health or safety to share safety testing results with the U.S. government under the Defense Production Act before releasing the products to the public. “It’s terrible for American innovation,” said Jeff Amico, a former a16z partner and now head of operations at Gensyn Network, who called the order’s reporting requirements “essentially a public company report for startups building large-scale models.” Amico noted that the order's requirement to disclose information when large amounts of computing power are acquired "treats computing — an inherently neutral technology — as a dangerous resource that must be regulated." Affected by this news, artificial intelligence-related tokens fell across the board. CoinGecko data shows that GRT fell 2.4% in 24 hours, FET fell 2.2% in 24 hours, AGIX fell 6.1% in 24 hours, and OCEAN fell 2.8% in 24 hours. (CoinDesk)