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Unchained

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

Unchained

Laura Shin

News, Tech News, Business News

4.61.3K Ratings

🗓️ 25 October 2024

⏱️ 51 minutes

🧾️ Download transcript

Summary

Subscribe to our new regulatory newsletter Unregulated: https://unchainedcrypto.substack.com/s/unregulated 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 Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Mantle’s FBTC Guest Teng Yan, Founder of Chain of Thought Teng’s article: GOAT: The Gospel of Goatse  Links Previous coverage of Unchained on GOAT: GOAT Hits a Record $879 Million Market Cap After Brian Armstrong Offers to Help Truth Terminal GOAT: How AI Agents Talking Turned Into a $268 Million Memecoin 'Religion' Infinite backrooms Andy : https://x.com/AndyAyrey Andy Ayrey's (creator of Truth Terminal) research paper on LLMtheism:  Truth Terminal's X account  Kaito: GOAT’s mindshare Timestamps:  00:00 Intro 01:28 How an AI experiment led to the creation of GOAT 06:16 The rise of “Terminal of Truth” and its unexpected evolution 11:57 How a simple spelling mistake raised skepticism 20:09 What happened to the $50,000 in BTC from Marc Andreessen? 21:06 Whether AI models can have their own wallets 24:17 Whether AI memecoins will surge on other chains 26:19 What’s next for the rise of AI memecoins 28:35 The future of AI and crypto’s intersection 31:39 Who Kamala Harris may consider for SEC Chair 34:12 How one Senate race could boost Elizabeth Warren’s power over crypto 40:33 News Recap Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Once you give it access to tools that allows it to take actions, like for example having its own

0:05.2

crypto wallet, having its own ability, for example, to trade tokens to even potentially

0:10.7

interact with other smart contracts and create its own tokens.

0:14.3

I think that opens up and unlocks a lot of potentially interesting things that it can do, right?

0:20.9

It can actually start to impact the world beyond just its words and it actually can have

0:25.5

like financial impact in terms of like buying and selling tokens. Hi everyone welcome to Unchained, your no hype resource for all things crypto.

0:36.0

I'm your host Laura Shin, author of the cryptopians. I started covering crypto nine years

0:41.0

ago and as the senior editor of Forbes was the first

0:43.4

mainstream meter porter to cover cryptocurrency full-time. This is the October 25th

0:47.5

2024 episode of Unchained. Pocadot is the original and leading

0:52.0

layer zero blockchain with over 2,000 plus developers,

0:55.0

and the Pocodot 2.0 upgrade will be a massive accelerator for the ecosystem.

1:00.0

Join the community at POGODOT network

1:02.8

Ecosystem slash Community.

1:05.2

FBTC is the fastest growing omni-chain BTC asset this summer.

1:09.7

Join FBTC points inspired campaign

1:12.2

where you can hold FB-BTC to earn sparks, lucrative

1:15.3

yields, and token drops, all on your Bitcoin.

1:18.8

Today's guest is Ting-Yen, founder of Chain of Thought, an independent research firm focused on crypto and AI.

1:24.8

Welcome, Ting.

1:25.8

Hey Laura, so glad to be here.

1:28.8

Yeah, I cannot wait to discuss all these things with you.

...

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