Home›Crypto›Market Structure›AIxCrypto cash plunges 97% in six months as digital as…

AIxCrypto cash plunges 97% in six months as digital assets fall

The pre-revenue company reported $577,328 in cash at June 30, down from $19.33 million at Dec. 31, after a $12 million financing outflow tied to Faraday Future securities.

Reported · Written up by our desk · Market Structure

AIxCrypto Holdings, a pre-revenue company building a robot-rental marketplace while holding digital assets, entered the third quarter with $577,328 in cash after its balance fell 97% in six months, according to CryptoSlate. The company said cash and cash equivalents dropped from $19.33 million at Dec. 31 to $577,328 at June 30. In the first half, AIxCrypto posted a $10.27 million net loss and used $7.94 million of cash in operations, while its cash-flow statement also recorded a $12 million financing outflow for Faraday Future securities. AIxCrypto made the Faraday investment through an arrangement involving Gold King Arthur Holding Limited, which totaled $500,000 of Class A common stock and $11.5 million of Series C preferred stock. CryptoSlate also noted the firm recorded digital-asset fair value losses, with digital assets falling to $5.21 million from $10.25 million at year-end. The portfolio included Bitcoin holdings of $2.70 million, about 52% of the June 30 balance, leaving the rest exposed to crypto-market volatility. AIxCrypto reported no outstanding debt for borrowed money, but current liabilities of $1.72 million were nearly three times its cash balance, and its common-stock purchase agreement could provide up to $50 million only after conditions and effectiveness steps are met, with potential dilution and draws capped through shareholder approval.

Latest closeGold $4,157.80 ▲0.4%|Bitcoin $81,906.63 ▼1.4%

More like this

Sources