Fetch.ai Throws $50 Million at FET, Hopes Someone Notices

by

Alright, so apparently the big brains at Fetch.ai have been whining—er, stating—that their precious FET token is trading for less than a cup of coffee. You know, undervalued—like that dusty Picasso your grandma hid behind the fridge. Their solution? Drop fifty million bucks on their own token. That’s one way to make a point. 💸

June 19, you’ve got CEO Humayun Sheikh jumping onto X (Twitter, but with an identity crisis) and, I kid you not, outright saying, “Hey, FET’s worth more than you all think, so here’s $50 million to prove it.” Buybacks aren’t exactly what you see every day in crypto. Usually these projects are burning tokens like they’re roasting marshmallows, or giving staking rewards—everyone’s obsessed with burning stuff. Buybacks, though? Now that’s a move, huh?

So, What’s With the Grand Gesture?

According to the Fetch Foundation, this isn’t just about number go up. Apparently, it’s some “smart, chess move” responding to real growth in their AI-happy ecosystem. I mean, they have agents doing all sorts of fancy things—defi, IoT, autonomous agents who probably make fewer mistakes than your average barista. And now, they’re teaming up with AkedoFun to put AI agents into games. Can’t wait for a digital Larry David agent to complain about blockchain fees in real time.

The ASI1 infrastructure? Sure, it sounds like a robot from a Star Wars knockoff, but let’s roll with it. It’s letting these AI agents do even more complicated stuff on-chain, so apparently, the foundation is bracing for a “supply crunch.” Because nothing gets people moving faster than the threat of running out—just ask anyone at a Costco during a toilet paper shortage. 🧻

And hey, the announcement did its job: FET jumps more than 7% in one day. From $0.6434 to $0.7045—before cooling off a little, because, of course, crypto can’t just let anyone be happy for too long. At the end of the day, if you’re rooting for the robots or just here to watch the sparks fly, at least it’s more entertaining than cable news.

Read More

2025-06-19 18:35