• bitcoinBitcoin (BTC) $ 118,419.00
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  • cardanoCardano (ADA) $ 0.779756
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  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
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  • okbOKB (OKB) $ 47.75
  • jito-staked-solJito Staked SOL (JITOSOL) $ 220.53
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  • binance-peg-wethBinance-Peg WETH (WETH) $ 3,853.88
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  • vechainVeChain (VET) $ 0.024667
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  • cosmosCosmos Hub (ATOM) $ 4.48
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.220545
  • fasttokenFasttoken (FTN) $ 4.58
  • worldcoin-wldWorldcoin (WLD) $ 1.08
  • binance-staked-solBinance Staked SOL (BNSOL) $ 192.52
  • official-trumpOfficial Trump (TRUMP) $ 9.42
  • sei-networkSei (SEI) $ 0.318580
  • skySky (SKY) $ 0.086213
  • spx6900SPX6900 (SPX) $ 1.95
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.699942
  • susdssUSDS (SUSDS) $ 1.06
  • rocket-pool-ethRocket Pool ETH (RETH) $ 4,391.69
  • story-2Story (IP) $ 6.11
  • filecoinFilecoin (FIL) $ 2.53
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  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 4,048.55
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 5.06
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 117,857.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.532063
  • xdce-crowd-saleXDC Network (XDC) $ 0.098895
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 4,065.68
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  • mantle-staked-etherMantle Staked Ether (METH) $ 4,130.65
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  • optimismOptimism (OP) $ 0.719902
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 0.999893
  • falcon-financeFalcon USD (USDF) $ 0.999390
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 117,985.00
  • pump-funPump.fun (PUMP) $ 0.003154
  • flokiFLOKI (FLOKI) $ 0.000115
  • conflux-tokenConflux (CFX) $ 0.214114
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 203.57
  • fartcoinFartcoin (FARTCOIN) $ 1.07
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  • sonic-3Sonic (S) $ 0.331362
  • wbnbWrapped BNB (WBNB) $ 800.34
  • the-graphThe Graph (GRT) $ 0.101541
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.998575
  • dogwifcoindogwifhat (WIF) $ 0.987876
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.84
  • ethereum-name-serviceEthereum Name Service (ENS) $ 28.59
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 118,367.00
  • paypal-usdPayPal USD (PYUSD) $ 0.999855
  • saros-financeSaros (SAROS) $ 0.358656
  • lido-daoLido DAO (LDO) $ 1.04
  • pax-goldPAX Gold (PAXG) $ 3,309.37
  • kaiaKaia (KAIA) $ 0.159676
  • msolMarinade Staked SOL (MSOL) $ 237.23
  • clbtcclBTC (CLBTC) $ 120,697.00
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  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
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  • vaultaVaulta (A) $ 0.538124
  • super-oethSuper OETH (SUPEROETH) $ 3,860.00
  • tether-goldTether Gold (XAUT) $ 3,303.02
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 4,122.38
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 4,022.72
  • raydiumRaydium (RAY) $ 3.01
  • iotaIOTA (IOTA) $ 0.203796
  • jasmycoinJasmyCoin (JASMY) $ 0.016056
  • galaGALA (GALA) $ 0.016563
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  • the-sandboxThe Sandbox (SAND) $ 0.293330
  • pyth-networkPyth Network (PYTH) $ 0.123416
  • ousgOUSG (OUSG) $ 111.99
  • bittorrentBitTorrent (BTT) $ 0.00000071
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Phantom faces backlash for allegedly misleading investors over AceofAI partnership

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Phantom faces backlash for allegedly misleading investors over AceofAI partnership

Phantom said they were not aware that their service would be associated with any token endorsements.

Key Takeaways

  • Phantom faced criticism after Ace of AI announced a supposed partnership, causing investment in ACE.
  • Clarification by Phantom that it was not an official partnership led to ACE token’s value drop.

Phantom, a prominent multi-chain crypto wallet provider, faced criticism after their social interaction with Ace of AI, which many interpreted as a formal partnership between the two projects, led to confusion and investor losses.

On Jan. 9, Ace of AI announced on X that they were “excited to partner with Phantom” as part of the Phantom embedded early access program. Phantom replied to Ace of AI’s tweet with a series of emojis that were interpreted as an official partnership.

Phantom faces backlash for allegedly misleading investors over AceofAI partnership

Source: @lynk0x

The announcement led to a surge in the price of Ace of AI’s token, ACE. According to data from GeckoTerminal, the token rocketed to $0.017 following the news.

Phantom later deleted the comment and clarified in a separate statement that Ace of AI was merely using their embedded wallet product and that no partnership or endorsement existed. They said they were unaware their service would be used to endorse any token.

ACE’s value quickly plummeted after Phantom’s clarification. Currently, it is trading at approximately $0.0005, down over 90% from its initial rally.

Phantom faces backlash for allegedly misleading investors over AceofAI partnership

Users on X started confronting Phantom and questioning their communication approach. Many investors reported that they felt misled by the perceived association between the two companies and suffered financial losses.

Source

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