When software developer Andy Ayrey launched Truth Terminal in mid-2024, he wasn't trying to mint a crypto legend. The experimental artificial intelligence (AI) persona was trained on social-media chatter and internet subcultures -- eventually posting memes and spiritual musings on X (formerly Twitter). Within months, Ayrey's digitally created Truth Terminal had amassed crypto holdings worth US$1.5 million (C$2.1 million), becoming crypto's first AI millionaire (1).
What made Truth Terminal unique wasn't its humour -- it was its autonomy. It responded to mentions, traded tokens and generated market hype on its own. When billionaire venture capitalist Marc Andreessen sent it US$50,000 (C$70,000) in Bitcoin, not to a company or a person but directly to the AI known as Truth Terminal, it marked a first in financial history: A digital agent participating in markets as an independent economic actor.
It's now estimated that every month more than US$2 trillion (C$2.76 trillion) of stablecoin transactions are conducted by automated bots and AI agents (2). These programs don't just follow scripts -- they read social posts, interpret news sentiment and make trading decisions without human oversight.
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This merging of AI and decentralized finance (known as DeFi) has prompted the birth of a new field: DeFAI-decentralized finance run by autonomous AI systems. These "digital employees" can analyze hundreds of protocols, shift assets to the best-performing ones, and harvest yields in seconds. They act as tireless portfolio managers, capable of detecting arbitrage opportunities across exchanges faster than any human trader (3).
"[It's] the beginning of a new economic reality where AI doesn't just analyze markets but actively participates as an independent actor," explains Niklas J.R.M. Schmidt, a partner at Wolf Theiss and contributor to the When AI Agents Become Crypto Millionaires report (4).
Why it matters for Canada
At first glance, the rise of AI investors sounds like distant concern that doesn't come close to Bay Street and everyday investors. While that may be true (for now), it is important to consider the upside of AI investors -- and how our nation can benefit. Canada is home to world-leading AI research hubs in Toronto, Montréal and Vancouver, making it uniquely positioned to shape this transformation.