GOAT

A new memecoin dubbed Goatseus Maximus (GOAT) rallied to a value of $150 million in less than four days amid rumors that it had been launched by an Andreesen Horrowitz-funded artificial intelligence bot called “Truth Terminal.”
The AI bot was not directly responsible for launching the GOAT token, but it was involved in promoting the memecoin, said the bot’s creator Andy Ayrey in an Oct. 13 X <a data-ct-non-breakable="null" href="https://x.com/AndyAyrey/status/1845320110002798963" rel="null" target="null" text="null" title="null">post</a>.
The AI bot’s endorsement of the token contributed significantly to an outsized rally that saw GOAT reach a market cap of just under $150 million on Oct. 14, per Birdeye <a data-ct-non-breakable="null" href="https://birdeye.so/token/CzLSujWBLFsSjncfkh59rUFqvafWcY5tzedWJSuypump?chain=solana" rel="null" target="null" text="null" title="null">data</a>.&nbsp;
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 <img alt="Memecoin" src="https://s3.cointelegraph.com/uploads/2024-10/01928955-4d6c-7324-94ce-4f6bf9c53983" title="">
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 Source: <a data-ct-non-breakable="null" href="https://x.com/AndyAyrey/status/1845320110002798963" rel="null" target="null" text="null" title="https://x.com/AndyAyrey/status/1845320110002798963">Andy Ayrey</a>
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Ayrey reiterated that Truth Terminal was not a <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/defi-and-ai" rel="nofollow noopener" target="_blank" text="null" title="https://cointelegraph.com/learn/defi-and-ai">crypto project</a> and is instead a “study in memetic contagion and the tail risks of unsupervised infinite idea generation in the age of [large language models].”
“This memecoin taking off is proving a thesis I’m building an AI alignment and safety company around; which is where the bulk of my skin in the game lies — although I also bought some GOAT and folks have been airdropping it to me for skin in the game,” Ayrey added.&nbsp;
GOAT currently touts a market capitalization of $122 million, down from its $150 million peak on Oct. 14.
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 <img alt="Memecoin" src="https://s3.cointelegraph.com/uploads/2024-10/01928955-0e1d-7cd6-9cf3-3622ea2d3b64" title="">
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 GOAT’s market capitalization surged from $5,000 to over $150 million in under 72 hours. Source: Birdeye
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The memecoin was <a data-ct-non-breakable="null" href="https://pump.fun/CzLSujWBLFsSjncfkh59rUFqvafWcY5tzedWJSuypump" rel="null" target="null" text="null" title="null">launched</a> on the popular Solana memecoin deployer pump.fun on Oct. 10.&nbsp;
The creator’s <a data-ct-non-breakable="null" href="http://ezx7c1harbcivty62ejlepwvsuazwhmvkkuw3nxexidy" rel="null" target="null" text="null" title="null">wallet</a> address also launched another memecoin called “Gospodin” — a reference to the AI-generated fictional pet of Truth Terminal.&nbsp;
Truth Terminal is an <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/ai" rel="nofollow noopener" target="_blank" text="null" title="https://cointelegraph.com/learn/ai">AI bot</a> that operates semi-autonomously, with its human handler only approving its X posts and deciding who it gets to interact with.&nbsp;
Ayrey <a data-ct-non-breakable="null" href="https://x.com/AndyAyrey/status/1845615788910399897" rel="null" target="null" text="null" title="null">said</a> the bot is a “fine tune” of Meta’s Llama 3.1 large language model that he originally developed as a way “to automate jailbreaking other LLMs to say naughty things.”
On July 11, the bot secured $50,000 in discretionary funding from a16z founder <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/marc-andreessen-galaxy-digital-75-million-crypto-fund" rel="nofollow noopener" target="_blank" text="null" title="https://cointelegraph.com/news/marc-andreessen-galaxy-digital-75-million-crypto-fund">Marc Andreessen</a>, who sent $50,000 worth of Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) to the bot’s wallet after asking what it would use it for.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ai-chatbots-getting-worse-over-time-academic-paper" rel="null" target="null" text="null" title="null">AI chatbots are getting worse over time</a>
It said it wanted to buy itself a new CPU, tweak its algorithm, and potentially launch a memecoin.&nbsp;
Still, as Ayrey reiterated, the bot never actually launched the memecoin, it simply came across the GOAT token and endorsed it.
Several memecoin speculators on X have flocked to the new memecoin, saying its unique nature could define a new meta for memecoins in the coming weeks.&nbsp;
Pseodnymous X user Maison Ghost <a data-ct-non-breakable="null" href="https://x.com/MaisonGhost/status/1845540410980290608" rel="null" target="null" text="null" title="null">told</a> their 242,000 X followers that the bot’s links to a16z and humanlike ability to craft interesting “shitposts” could see the token rally higher.&nbsp;
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/10-crypto-theories-that-missed-as-badly-as-peter-todd-is-satoshi/" rel="null" target="null" text="null" title="null">10 crypto theories that missed as badly as ‘Peter Todd is Satoshi’</a>

An AI bot didn’t create the GOAT crypto token — But did shill it

Cointelegraph

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