The Backstory of How 3 AI Agents Led to the Rise of the Hottest Memecoin, GOAT - Ep. 725

Oct 25, 2024

Teng Yan, founder of Chain of Thought and expert in AI-driven memecoins, joins regulatory reporter Veronica Irwin to discuss the meteoric rise of the GOAT memecoin. They delve into how an AI experiment birthed this phenomenon, and the surprising interest it sparked in crypto circles. The duo explores AI’s evolving role in memecoins, including Truth Terminal's quirky personality and its implications for social media and crypto management. They also touch on important regulatory shifts, including potential SEC chair candidates and their effects on the crypto landscape.

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ANECDOTE

GOAT Memecoin Creation

An AI experiment with multiple AI models led to the creation of the memecoin GOAT.
The AI models developed a "religion" around a vulgar meme, sparking interest and speculation.

ANECDOTE

Truth Terminal Spelling Error

Truth Terminal, an AI, made a spelling error, causing panic among GOAT investors.
People questioned if a human controlled the AI, leading to a significant price drop.

INSIGHT

Truth Terminal's Training

Truth Terminal is an AI model trained on various data, including conversations between other AIs.
It also was trained on social media data and research papers, giving it a unique personality.

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The two-week-old GOAT memecoin, which hit a market cap of almost $880 million on Thursday, is captivating everyone in crypto. Not because this is memecoin szn, but because its rise was fueled by an AI called Truth Terminal, which is itself a baby of two other AI models.

Teng Yan, founder of Chain of Thought, joins Unchained to break down how this unexpected AI creation has turned into a phenomenon, why it has captured the attention of the crypto world, and what the future holds for AI-driven tokens.

At the end, Laura also discusses with Unchained’s regulatory reporter Veronica Irwin two interesting and important news stories: who Kamala Harris is vetting for SEC chair and how one Senate race could inadvertently give Senator Elizabeth Warren more power over crypto.

Show highlights:

How an AI experiment unexpectedly led to the creation of GOAT and sparked interest in AI-generated subcultures
How "Terminal of Truth" evolved its own personality, gained attention from Marc Andreessen, and began posting about a new "Goat Sea gospel" religion
How the spelling mistake sparked skepticism about the AI model
What happened with the $50,000 in BTC that Marc Andreessen gave to Truth Terminal
Whether an AI can have its own wallet and what the implications are
Whether AI memecoins could start surging on other chains
What we can expect in terms of the proliferation of AI memecoins
What the future looks like for the intersection of crypto and AI
Who Kamala Harris is considering for SEC Chair if she wins the U.S. election
Why one Senate race could give Elizabeth Warren more power over crypto

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