ElizaOS Slides 16% After Co-Founder Says Foundation Will Be Dissolved

ElizaOS, an open-source AI agent platform, fell more than 16% after news that its foundation would be dissolved.

CoinMarketCap data showed ElizaOS trading at $0.0002843 as of 5:11 p.m. on Aug. 6, down 16.38% from a day earlier. The token has dropped about 27.5% over the past week.

The selloff followed a declaration by the project's co-founder that the foundation would be dismantled. Shaw Walters wrote on X on Aug. 5 that the ElizaOS token was "finished" and that the foundation was entering the dissolution process.

"If you hold the token now, sell it or try gathering a pump group to push up the price," he wrote. "The foundation is gone now, there will be no additional supply, and there is no buyback fund left to support the price."