AI agent token once worth $2.4 billion ends with founder calling it dead
The ELIZAOS AI agent token project has been declared dead by its founder, Shaw Walters, following a 97% drop in value and ongoing legal challenges. The foundation is closing after settling a class-action lawsuit that alleged deceptive practices and market manipulation.
Why it matters
The collapse of ELIZAOS illustrates the extreme volatility and legal risks associated with AI-themed crypto projects and the challenges of decentralized autonomous venture funds.
Shaw Walters, founder of Eliza Labs and the open-source ElizaOS agent framework, said the ELIZAOS token is finished and its foundation is closing.
“The token is dead. Completely,” Walters wrote on X earlier Wednesday. He said there would be no further foundation support, buybacks or supply measures, and that he plans to continue building the software without launching another token.
I guess I should say something about the token Look. I worked my ass off to the point I got a frozen shoulder and severe health issues from overworking and typing, and it was never enough We built cool shit but it was completely ignored because number down It felt like the…
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