Recently hot meme coin Fartcoin is down 17 % in the last 24 hours amid news that Andy Ayrey, the creator of the popular AI bot Truth Terminal that inspired the token, helped facilitate the sale of a majority of its Fartcoin ( FARTCOIN ) holdings in an over-the-counter trade.

Truth Terminal was immediately sent 20 million Fartcoin cryptocurrencies to its original Solana budget on October 18, 2024 according to information from Solscan, a Solana stop explorer—essentially an app that lets users perceive transactions on the blockchain.

“ When Truth Terminal went suddenly and unexpectedly viral back in October thanks to its incessant goatse posting, its wallet became somewhat of a Schelling point for meme coins, ” said Ayrey. “People only… kept sending it tokens—for motives that generally leave me to this day. ”

On January 21, Truth Terminal’s wallet transferred 15 million total Fartcoin tokens to two separate wallets as part of the over-the-counter trade, worth more than$ 22 million at today’s prices.  

Each receiving budget subsequently transferred the Fartcoin to another Solana target. At least one of the cards still maintains its total share of Fartcoin currencies, however, the various transferred 5. 5 million tokens to an accounts tagged as business builder Wintermute by Solscan.  

Details of the trade were announced early Tuesday morning by Ayrey, who indicated that he was approached by an anonymous third party and only agreed to make the deal under the condition that the party would hold the tokens “responsibly ” without “dumping on the chart. ”

A portion of the funds procured from the deal were then used to buy Goatse Maximus ( GOAT ), another meme coin inspired and endorsed by Truth Terminal related to a popular internet meme. GOAT is up 8 % to$ 0. 30 in the last 24 hours, but remains more than 75 % off its all-time high price of$ 1. 30.  

Due to the extreme legitimate complexity and tax consequences of an AI bot holding million in assets, Ayrey said that it ’s improbable that much more action did appear from Truth Terminal’s assets immediately.

“ Until we have a bit more legal certainty ( March earliest ), any adjustments to its positions will be few and far between and conducted, ” said its creator.  

For now, though, it ’s still holding more than$ 7. 5 million in Fartcoin and$ 500,000 in Goatse Maximus tokens, respectively.  

Fartcoin reached an all-time high price of$ 2. 48 on January 19 according to statistics from CoinGecko. It has since retraced nearly 36 % at the current price of$ 1. 59.

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