Bitcoin · CryptoSlate
A pre-revenue AI crypto startup funneled $12 million into EV as bad crypto trades erased 97% of cash in six months
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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.
Key facts
- Cash and cash equivalents fell from $19.33 million at Dec. 31 to $577,328 at June 30
- Its Bitcoin holdings accounted for $2.70 million, or about 52%, of the June 30 portfolio, leaving the remaining holdings exposed to crypto-market volatility
- The Faraday investment was made through an entrusted arrangement with Gold King Arthur Holding Limited and comprised $500,000 of Class A common stock and $11.5 million of Series C preferred stock
- AIxCrypto's digital assets fell in fair value to $5.21 million from $10.25 million at year-end, while it recorded a $2.93 million net loss on the assets during the half
Summary
01 AIxCrypto entered the third quarter with $577,328, down from $19.33 million at year-end. 02 A $12 million Faraday Future securities purchase drove a financing outflow alongside the company’s $10.27 million loss. 03 RoboShare targeted August activity and third-quarter revenue, but both timing and funding remained conditional. Cash and cash equivalents fell from $19.33 million at Dec. 31 to $577,328 at June 30.