Securities

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.