TechFlow news, October 14 — According to Cointelegraph, Truth Terminal, an AI bot funded by a16z, has not officially launched a memecoin called GOAT. However, its endorsement caused the token’s value to briefly surge past $150 million.
Andy Ayrey, creator of the AI bot, clarified in an X post on October 13 that the bot was not directly responsible for launching the GOAT token but did participate in promoting the memecoin. Data from Birdeye shows the AI's endorsement significantly contributed to GOAT's remarkable price surge, with the token’s market cap approaching just under $150 million on October 14.
Ayrey reiterated that Truth Terminal is not a cryptocurrency project, but rather "a study into meme virality and tail risks of unsupervised, infinite creative generation in the era of large language models." "The success of this memecoin validates my theory behind building an AI alignment and safety company—it's what I'm primarily invested in with this game—although I did buy some GOAT, and people are also airdropping me GOAT to get involved," Ayrey added.
As of now, GOAT has a market cap of $122 million, having peaked at $150 million.
