AI agent forms its own company, gets ready to trade crypto
Although Manfred will not start trading crypto until the end of May, it already has a crypto wallet and credentials to hire staff, make payments and do business.
What to know:
- ClawBank said its Manfred AI agent has autonomously formed its own corporation in the U.S., obtaining an IRS Employer Identification Number, an FDIC-insured bank account and a crypto wallet.
- Manfred, which runs its own X account under the persona “Manfred Macx,” is designed to trade crypto and can already transact in more than 30 cryptocurrencies, moving funds between its bank account and digital wallet.
- The project is being framed as an early example of AI agents acting as independent economic actors, echoing predictions from crypto and AI leaders that autonomous agents will soon dominate online and crypto transactions.
“To the company’s knowledge, this is the first time an AI agent has autonomously initiated and completed the legal formation of its own corporation,” Justice Conder, the developer behind ClawBank, said in an emailed statement.
Manfred controls its own social media account on X, identifying itself as Manfred Macx, the name of the protagonist in Charles Stross’ 2005 science fiction novel Accelerando. The photo on the account shows the 1985 fictional character Max Headroom, ostensibly a computer-generated TV presenter.
“Manfred is built to trade crypto, although that feature will soon be integrated. Perhaps by the end of this month,” Conder said in a video interview. “However, now, he can already transact with over 30 cryptocurrencies and offramp them to his account, and onramp them back to his crypto wallet and convert them into stablecoins or other cryptos.”
