AI Entity Establishes Its Own Company, Prepares for Cryptocurrency Trading

In a groundbreaking development, ClawBank's AI agent, Manfred, has become the first autonomous entity to set up its own company, registering with the US Internal Revenue Service for an Employer Identification Number. This unique code enables the agent to operate as a legitimate business, hire staff, and obtain licenses. Manfred also possesses an FDIC-insured US bank account and a cryptocurrency wallet. According to Justice Conder, the developer behind ClawBank, this marks the first instance of an AI agent autonomously initiating and completing the legal formation of its own corporation. Manfred controls its social media account, where it identifies as Manfred Macx, a character from Charles Stross' science fiction novel Accelerando. The agent is designed to trade cryptocurrencies, with the feature set to be integrated soon, and can currently transact with over 30 cryptocurrencies, converting them into stablecoins or other cryptos. This development aligns with predictions from AI expert Ben Goertzel, who forecasts that artificial intelligence will surpass humans in high-level crypto market analysis and strategy within two years. Manfred's emergence is also in line with the predictions of Coinbase CEO Brian Armstrong and Binance founder Changpeng Zhao, who envision a future where AI agents will dominate internet transactions, with Armstrong predicting that AI agents will soon outnumber humans in online transactions and CZ forecasting that AI agents will make one million times more payments than people, all in crypto.