Nasdaq-listed AIxCrypto announces exit from crypto holdings amid 50% loss

iconTechFlow
Share
This is the logo of the coin.
BTC
$76,650.900.64%
This is the logo of the coin.
ETH
$2,453.081.34%
This is the logo of the coin.
SOL
$102.213.25%
This is the logo of the coin.
BNB
$744.252.82%
This is the logo of the coin.
ADA
$0.20987.53%
AI summary iconSummary
Nasdaq-listed AIxCrypto announced a complete exit from its cryptocurrency holdings, citing a 50% loss. The company held 46 BTC, 616 ETH, and other tokens with a cost basis of $10.43 million and a fair value of $5.21 million. A stop-loss strategy appears to have been triggered as the company shifts its focus to its RoboShare platform. Value investing in crypto has become riskier amid the market downturn. The firm reported $7.94 million in cash burn for H1 and a cumulative loss of $150.3 million.

According to CryptoSlate, Nasdaq-listed AIxCrypto Holdings announced plans to orderly sell all of its cryptocurrency assets. As of June 30, the company held 46 BTC, 616 ETH, 6,659 SOL, 1,308 BNB, and smaller amounts of ADA, LINK, TRX, USDT, and XRP, with a total cost basis of $10.43 million and a fair value of only $5.21 million, resulting in an unrealized loss of approximately $5.22 million—a decline of about 50% from cost. Meanwhile, the company consumed $7.94 million in operating cash during the first half of the year and incurred cumulative losses of $150.3 million, raising concerns about its ability to continue as a going concern. The company is shifting its business focus to its RoboShare robot rental platform, which completed its first commercial order on August 15 by deploying six robots at an event in Malibu; however, specific revenue figures and future demand have not been disclosed.

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.