Can AI Make Crypto the Main Payment Rail for Global Trade?
- Bankman-Fried says AI may favor crypto since banks cannot easily verify software agents.
- He argues digital wallets could let AI buy computing faster without human identity checks.
- His remarks come as U.S. lawmakers keep debating rules that may reshape crypto markets.
Imprisoned FTX founder Sam Bankman-Fried has identified what he calls the biggest question for crypto: whether artificial intelligence will use it as a payment layer. Writing on X, he asked how AI systems like ChatGPT or Claude would pay for compute as they grow more autonomous. He argued that traditional finance poses obstacles to AI-driven transactions, while crypto may offer a digital alternative.
Bankman-Fried framed the issue in terms of payment rails. He questioned whether an AI seeking more processing power would use wire transfers, credit cards, or crypto. He wrote that traditional finance “doesn’t work well for AIs” because they lack passports, addresses, or social security numbers.
He added that crypto “works much better” because it is digital and permissionless. He noted that AI systems can already query blockchains and generate wallet addresses. That structure, he suggested, aligns with the needs of autonomous software.
AI, Compute, and Digital Payments
As AI models scale, their demand for compute continues to rise. Compute refers to the processing power required to run advanced systems. According to Bankman-Fried, the method of payment for that resource could shape crypto’s role.
He argued that decentralized ledgers allow AI agents to transact without identity documents. An AI can generate a wallet and sign transactions. It can also execute micro-payments in real time, matching digital operations with digital settlement.
In contrast, he described legacy banking as identity-based. He asked how an AI could complete know-your-customer checks without legal documents. That friction, he suggested, may limit traditional rails for autonomous agents.
He then posed a broader fork in the road. Either finance adapts to become natively digital for AI, or AI remains tied to a human “master” model. That model would treat each AI as an agent of a specific person.
Under that structure, the human would complete KYC checks and assume responsibility. Bankman-Fried asked, “Who is legally responsible for what an AI does?” He described liability as a key unresolved issue.
Liability and Legal Uncertainty
Bankman-Fried noted that granting an AI a crypto wallet and trading authority raises legal risks. If an AI causes market disruption or executes harmful trades, current laws offer limited guidance. Regulators would need to determine responsibility among programmers, owners, or other parties.
Related: Sam Bankman-Fried Challenges 25-Year Sentence With New Trial Bid
He wrote that “some work needs to be done to plug the world of AI into the world of trading and payments.” He said the solution will either rely on crypto-native systems or a human-supervised model. He added that the direction will carry large implications.
His remarks arrive as lawmakers continue debates over crypto regulation. The Clarity Act seeks to define jurisdiction between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The House passed the bill last year, and Senate discussions continue.
The bill has faced debate over stablecoin yield treatment and conflict-of-interest concerns. Some firms adjusted positions as revisions moved forward. Treasury Secretary Scott Bessent recently said clearer rules would reassure markets, while prediction market data shows fluctuating odds of passage before the year’s end.
SBF’s Conviction and Political Context
Bankman-Fried was convicted in 2023 on seven counts of fraud and conspiracy after FTX collapsed in November 2022. Prosecutors said he misused customer funds through Alameda Research. In 2024, a federal court sentenced him to 25 years in prison. He is appealing the conviction.
Recent social media posts attributed to him included supportive remarks about President Donald Trump. Some observers viewed those posts as efforts to seek a presidential pardon. Reports indicate that the White House has said no pardon is planned.
Trump previously granted clemency to other crypto figures, yet officials ruled out similar action for Bankman-Fried. He previously supported the Digital Commodities Consumer Protection Act in 2022, though that proposal lost momentum after FTX collapsed.
Lawmakers from both parties have stated that crypto regulation debates will proceed independently of his public statements. Meanwhile, Bankman-Fried’s central question remains: will AI adopt crypto as its native payment layer?
