According to a report from ChainCatcher, Shaw Walters, founder of Eliza Labs, has officially declared that the ai16z/ElizaOS token is 'dead' and that the related foundation will be closed. The decision comes after Burwick Law, a law firm representing token holders, filed a class-action lawsuit. Unable to afford the legal expenses, the foundation chose to settle and will distribute the rest of its treasury assets to claimants in full. Walters said he never sold any of his ai16z tokens and never made a profit from the project. He clarified that he only drew a basic wage matching that of an engineer and is currently relying on personal savings. He further stated that he intends to keep developing the underlying Eliza technology, but he explicitly promised that no token will ever be tied to Eliza again. For existing holders, Walters suggested they handle their tokens themselves, as the foundation will not provide repurchase support.
In a statement carried by ChainCatcher, Shaw Walters, founder of Eliza Labs, announced that the ai16z/ElizaOS token is officially "dead" and that the associated foundation will be shut down. The move follows a class-action lawsuit filed on behalf of token holders by the law firm Burwick Law.
Unable to bear the legal costs, the foundation opted for a settlement and will pay out the remainder of its treasury funds in full. Walters said he has never sold any ai16z tokens and has never profited from the project. He said he has only received a basic salary equal to that of an engineer and is currently living on savings.
He stressed that he will continue to develop the underlying Eliza technology, but made clear that no token will ever be associated with Eliza again. As for current holders, Walters advised them to manage their tokens on their own, adding that the foundation will not provide any buyback support.
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