Fetch.ai claims ‘business as usual’ amid opposing bankruptcy reports
Crypto AI firm Fetch.ai said: 30 January Continuing to operate normally despite previous restructuring operations. He said:
Simon Hunt, author of The Standard’s article, pointed out the difference between the statements of the company and its executives. In one X post he wrote:
Fetch.ai sold to consortium
A bankruptcy filing on the UK’s official public records shows that Fetch.ai appointed administrators from ReSolve Advisory Limited on January 23.
ReSolve told The Standard that it “succeeded in selling Fetch.AI’s business and assets.” The report indicates that Fetch.ai was acquired by Assmbl.ai, a consortium made up of founders of one of the firms, but it is unclear whether these founders are members of Fetch.ai or ReSolve.
The Standard also commented on Fetch.ai’s native token, FET. It said Fetch.ai suffered a loss of £16.7 million ($21 million) and FET reduced its assets by £231 million ($293 million) due to impairment in 2021 and 2022. Standard added that the token does not belong to Fetch. ai and is not affected by restructuring.
Current market data shows FET’s market cap is $516.4 million and is up 1.5% in 24 hours. It is among the top 110 crypto tokens by capitalization.
The post Fetch.ai claims ‘business as usual’ amid opposing bankruptcy reports appeared first on CryptoSlate.
#Fetch.ai #claims #business #usual #opposing #bankruptcy #reports
Crypto AI firm Fetch.ai said: 30 January Continuing to operate normally despite previous restructuring operations. He said:
This official statement comes alongside competing reports suggesting that Fetch.ai is actually in financial trouble. Britain’s third largest newspaper, the Standard, quoted Fetch.ai’s consultants in a report published today. These advisers said the company was experiencing financial problems in late 2023 and appointed administrators to obtain rescue capital and secure the sale of its shares, business or assets.
Simon Hunt, author of The Standard’s article, pointed out the difference between the statements of the company and its executives. In one X post he wrote:
Fetch.ai did not respond to Hunt’s comment.
Fetch.ai sold to consortium
A bankruptcy filing on the UK’s official public records shows that Fetch.ai appointed administrators from ReSolve Advisory Limited on January 23.
ReSolve told The Standard that it “succeeded in selling Fetch.AI’s business and assets.” The report indicates that Fetch.ai was acquired by Assmbl.ai, a consortium made up of founders of one of the firms, but it is unclear whether these founders are members of Fetch.ai or ReSolve.
The Standard also commented on Fetch.ai’s native token, FET. It said Fetch.ai suffered a loss of £16.7 million ($21 million) and FET reduced its assets by £231 million ($293 million) due to impairment in 2021 and 2022. Standard added that the token does not belong to Fetch. ai and is not affected by restructuring.
Current market data shows FET’s market cap is $516.4 million and is up 1.5% in 24 hours. It is among the top 110 crypto tokens by capitalization.
The post Fetch.ai claims ‘business as usual’ amid opposing bankruptcy reports appeared first on CryptoSlate.
#Fetch.ai #claims #business #usual #opposing #bankruptcy #reports