CoinDesk
AI token once worth $2.4 billion declared dead by founder
August 5, 2026•09:28 AM
Eliza Labs founder Shaw Walters has officially declared the ELIZAOS token dead, announcing the closure of its foundation and instructing holders to sell immediately. The once-mighty AI agent token, which reached a valuation of $2.4 billion, has now succumbed to a devastating 97% crash that has effectively wiped out investor value. The ELIZAOS token replaced AI16Z following a lawsuit and forced rebranding, only to meet a similar fate. This collapse represents one of the most significant failures in the AI crypto token market, highlighting the speculative risks associated with emerging projects in the artificial intelligence blockchain space. Investors are now turning their attention to more stable alternatives within the expanding AI token ecosystem.
This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.
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