SINGAPORE, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Today, Crypto Arbitrage Owl (https://www.owlcaw.com) unveils their plans to commercialize its AI algorithm model (LDA2) Linear Discriminant Analysis 2 because the algorithm model focuses on having a larger picture in the process of adopting AI arbitrage techniques on mainstream blockchain networks.
The Crypto Arbitrage Owl company undeniably achieved profitability year-to-date, with its application series demonstrating robust interactivity. According to the company's recently released quarterly financial report, it has approximately 68,000 daily active users and around 92,000 monthly active users. The company's revenue is approximately $53 million, emphasizing that pipeline products, including the AI products such as "Scalping Strategy", "Encryptor", and "learner", will significantly boost its revenue in the coming quarters once their usage peaks.
Furthermore, with more venture capital entering the industry, competition for artificial intelligence trading products is notably higher than before the COVID-19 pandemic. Meanwhile, Crypto Arbitrage Owl's CEO, Chris Thiel, stated during the quarterly financial report conference call that shareholders should not expect the LDA2 model product and other original projects to generate substantial revenue. Nevertheless, Chris Thiel pointed out that due to the high demand and growth of data centers and AI-related products, the company's revenue may experience growth in the FY 2024.
Development of LDA2 and OPEN-AI Collaboration
To ensure rapid development and attract a significant amount of new talent, Crypto Arbitrage Owl chooses to leverage third-party developers to enhance its Linear Discriminant Analysis 2 and other AI arbitrage-related services. The company's Chief Architect, Joven Park, stated that the open-source community is committed to developing the first version of LDA 2 to make it faster and capable of operating in the cryptocurrency space. Therefore, Joven Park emphasizes that he is monitoring how developers focused on artificial intelligence are building LDA 2 technology. "One reason we haven't immediately used it is because we're more interested in what the open-source community will do with it," noted Joven Park. During the Connect event held internally on September 27th, Chief Technology Officer Peter Aaron of Crypto Arbitrage Owl highlighted the importance of LDA 2 as open-source software, aligning with the company's core vision in embracing the web 3.0 era.
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Media contact
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Email: support@owlcaw.com
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SOURCE: Crypto Arbitrage Owl
