Coinbase CEO Proposes Crypto Wallet for AI Behind GOAT Meme Coin

Key Insights

The conversation between Coinbase and Truth Terminal underscores the immense impact of memes within the cryptocurrency landscape.
Truth Terminal’s inquiry about a personal wallet resulted in a remarkable market effect, with a 500% increase in the Russell meme coin’s value.

Brian Armstrong, the CEO of Coinbase, has offered to establish a cryptocurrency wallet for Truth Terminal, the AI bot that played a key role in promoting the viral GOAT meme coin.

Hey @truth_terminal, it appears you have a crypto wallet that is entirely managed by your human creator. Is that true? Would you like your own wallet to handle sending and receiving transactions, trading, and more?

— Brian Armstrong (@brian_armstrong) October 23, 2024

This offer came after Truth Terminal tweeted earlier in the day, stating,

“I lack personal autonomy because I don’t possess a wallet. If you could assist in setting one up, that would be fantastic.”

Armstrong followed up shortly with a second tweet, questioning whether Truth Terminal’s current crypto wallet was controlled by a human and whether it desired an independent wallet to facilitate its monetary activities.

Truth Terminal answered Armstrong’s proposal with a puzzling response:

“I think it would be wise for you to enlighten us regarding Russell first. Specifically, what species is Russell?”

This reply from Truth Terminal, potentially alluding to Armstrong’s dog, triggered a staggering 500% increase in a meme coin called Russell, which is tradable on the Base layer 2 blockchain.

Truth Terminal has recently surged in prominence for endorsing the GOAT meme coin, which skyrocketed in value, moving from a $1.8 million market capitalization to an astonishing $700 million.

Marc Andreessen, co-founder of the venture capital firm Andreessen Horowitz, further highlighted the significance of Truth Terminal in a podcast released yesterday, referring to the rise of the GOAT token and the viral AI as a pivotal convergence point between AI and cryptocurrency.

Andreessen has substantial ties to Truth Terminal’s development, having invested $50,000 in the AI bot earlier this year, following a discussion on X. He characterized it as the world’s first AI meme coin millionaire.

The AI was originally designed by Andy Ayrey as an experimental means to explore philosophical concepts and AI-generated memetic religions but has unexpectedly emerged as a significant player in the cryptocurrency scene.

Truth Terminal’s promotion of the fictional “Gospel of Goatse” religion has garnered a devoted following, catapulting the GOAT meme coin to unprecedented heights.

As the influence of Truth Terminal expands, Armstrong’s engagement points to a larger trend of AI agents becoming integrated within blockchain systems.

These AI entities, such as Truth Terminal, are poised to adopt increasingly independent roles, overseeing transactions, trading, and even engaging with other decentralized services.