ELIZAOS founder Shaw Walters calls token dead, tells holders sell
ELIZAOS, the crypto token that took over from AI16Z, has been called "dead" by its founder, Shaw Walters.
In his August 5 announcement, Walters told holders to sell off their tokens since the ELIZAOS foundation won't offer any more support or buybacks.
The token's value now sits at just $0.00031, down a huge 97% from its peak.
Legal settlements wiped ELIZAOS project funds
ELIZAOS was born when AI16Z holders were migrated to the new token, but things unraveled fast after a class-action lawsuit in April accused the project of misleading investors and diluting their holdings.
Objections from Andreessen Horowitz led to a name change, and Walters shared he personally lost $25 million as prices crashed.
The last of the project's funds went to settle legal claims, leaving nothing behind for recovery.