Arthur Hayes, the co-founder of BitMEX, has recently taken on a strategic advisory role at Covalent, a blockchain data infrastructure startup.
Arthur Hayes To Bring Expertise To Covalent
Hayes, who is currently the Chief Investment Officer at his family office, Maelstrom, will be getting paid in Covalent’s digital coin, CQT tokens which at the time of writing trades at $0.220126, up by 7.29% in the last 24 hours.
Members of the protocol hope this partnership will bring a fresh perspective to the project and potentially lead to exciting developments in the future. Hayes as Covalent’s “full-scope” advisor is expected to bring a wealth of experience and expertise in the crypto industry to Covalent based on his founder experience at the BitMEX and Maelstrom.
This positions him well to provide valuable insights on market trends, strategic planning, suggesting business model tweaks and overall industry knowledge to Covalent.
Additionally, his perspective could help the startup to navigate the dynamic and evolving landscape of blockchain technology and data infrastructure, sharing key advice to steer the project.
Hayes’ partnership started when Covalent’s Ganesh Swami and Maelstrom’s Head of investments, Akshat Vaidya met at ETHGlobal in Tokyo and had their first meeting there. Then further discussions took place during ETHCC Paris and Token2049 Singapore.
Insight On Covalent AI Dream
Covalent was founded in 2019 with the goal of offering data infrastructure for various networks, including Bitcoin, Ethereum, Polygon, Avalanche, and Optimism.
Throughout its journey, the protocol excelled within the Ethereum ecosystem, prompting the introduction of its Ethereum Wayback Machine. This innovation guarantees that all AI developers and users have access to its latest model. Swami, the Convalent CEO, stressed that AI models without decentralized data are prone to manipulation and biases
He further highlighted the importance of integrating AI into Covalent’s decentralized data infrastructure as a broadened vision.
Similar to Covalent’s AI innovation, Robinhood Market Inc, a prominent free commission brokerage also got into the AI scene with its recently launched Harmonic, a commercial AI Research Lab with a specific focus on developing Mathematical Superintelligence (MSI).
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