AIxCrypto burned 97% of its cash, then handed $12 million to the company that controls it
AIxCrypto, a pre-revenue company developing a robot-rental marketplace, has depleted 97% of its cash, leaving only $577,328. The company transferred $12 million to securities of its controlling shareholder, Faraday Future, while its digital asset portfolio also saw a significant decline in value. AIxCrypto faces current liabilities nearly triple its remaining cash, with potential future funding routes involving discounted equity issuance or further erosion of its digital asset holdings.
- Entities
- Company: Faraday Future
- Company: AIxCrypto
- Topic: Securities
- Topic: Cryptocurrency
- Company: Gold King Arthur Holding Limited
- Topic: Financial Analysis
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