The post AI Crypto Startup O.XYZ Faces Allegations of Misrepresentation and Internal Turmoil: Sources appeared on BitcoinEthereumNews.com.

O.XYZ, a blockchain and AI company touting crypto and artificial intelligence services, is facing allegations of falsely inflating its technological claims and engaging in aggressive tactics to suppress dissent within the company. While founder Ahmad Shadid has defended both his and the company’s actions, multiple sources familiar with the company’s operations who spoke with Decrypt have refuted public claims, alleging widespread misrepresentation of O.XYZ’s capabilities. O.XYZ positions itself as a community-owned “Super AI” ecosystem. The company claims to leverage substantial GPU computing power, purportedly deploying tens of thousands of open-source models, enabling it to execute a wide array of tasks. Sources claim the company has exaggerated its capabilities, falsely stating it can connect to over 100,000 AI models, runs 20 times faster than competitors, and owns powerful hardware it doesn’t actually possess.  It’s also accused of inflating the value of its satellite program and misrepresenting its token launch, raising questions about transparency and accountability. As a result of those allegations, sources claim holders of the company’s recently launched O.XYZ token are at risk of being harmed. In an emailed statement to Decrypt, Shadid issued a detailed response to concerns raised about the company’s claims, insisting that O.XYZ’s promotional language is “forward-looking” and aligned with its development roadmap.  However, sources who spoke with Decrypt dispute this characterization, pointing to materials on O.XYZ’s website and investor presentations that describe capabilities as existing rather than aspirational. In June, Shadid stepped down as CEO of Solana-based decentralized infrastructure provider IO.net—a company he founded—amid allegations surrounding his past and misreported company metrics, citing his decision as a move to reduce distractions and focus on the company’s growth. A public statement Shadid published amid his departure from IO has since been deleted from Twitter (aka X). To avoid conflicts and distance itself from Shadid, IO agreed…

---

Filed under: News - @ November 24, 2024 10:20 am