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ai16z token collapses after settlement in Burwick Law class action
The ai16z token fell about 99.99% from its $2.47 all-time high, trading around $0.000277, while related ELIZAOS turnover declined 6.5% to about $0.000354.
Eliza Labs founder Shaw Walters said the ai16z token is effectively “dead” after his side settled a class action filed by Burwick Law, transferring “the rest of the treasury and all the money we had.” Walters said the claim was “ridiculous” but that the team lacked capital to fight it, and told remaining holders there was no remaining foundation or buyback support and that he no longer owns any of the token, according to The Defiant.
Walters said Eliza Labs will continue building the ElizaOS software, and that he is “starting over” because he owns the intellectual property, while warning holders that there is no money coming to support the price. The outlet also cited token market data showing ai16z traded at about $0.000277 on Wednesday, with a market capitalization near $305,000 and 24-hour volume roughly $4,080.
The Defiant reported that ai16z is down about 99.99% from its Jan. 1, 2025 all-time high of $2.47. It added that ELIZAOS, the token holders migrated into, changed hands around $0.000354, down 6.5% on the day, with a circulating market value of about $2.65 million across 7.48 billion tokens.
On the litigation side, Burwick Law filed the complaint on April 16, 2026 in the U.S. District Court for the Southern District of New York, captioned Doe v. Walters, on behalf of buyers of ai16z on Solana from Oct. 24, 2024. The firm alleges deceptive acts and false advertising, negligent misrepresentation, and unjust enrichment, and seeks damages, disgorgement, and a constructive trust over traceable treasury and wallet assets, according to the report.
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