When AI Agents Control Billions in Crypto, Where Will They Trade?

What happened

In a Milk Road Crypto episode, John Gillen interviewed Louis Regis, founder and CEO of Proper, an onchain prop trading firm built on Hyperliquid. They discussed how AI agents, automated trading, perpetual futures, prediction markets, and decentralized infrastructure could reshape crypto markets. Louis noted roughly one-third of Proper's users are already agents or algorithmic traders.

Confirmed

Global impact / market context

This matters because if roughly one-third of users on a prop trading platform are already automated, then trading volume, risk management, and capital allocation in crypto may increasingly be driven by software rather than humans, potentially changing how prices form and how firms compete for speed and efficiency.

Analyst inference

The discussion highlights a market shift toward perpetual futures, which are contracts without an expiry date, prediction markets where people bet on event outcomes, and decentralized infrastructure that runs without a central company. These trends suggest crypto trading is moving toward more automation and new ways to allocate capital.

Analyst inference

What to watch

1. Louis Regis said about one-third of Proper's users are already agents or algorithmic traders, which means automated participants are a significant portion of activity on this prop trading firm built on Hyperliquid. Confirmed
2. Louis suggested prop trading could become a way to allocate capital to autonomous trading systems without putting large amounts of money at risk upfront, which may let more investors fund AI agents with limited initial exposure. Proposed
3. If AI agents gain an advantage in risk management, then companies and investors may shift capital toward automated strategies, potentially increasing demand for perpetual futures, prediction markets, and decentralized infrastructure that support such trading. Analyst inference

Evidence

• youtube.com