AIxCrypto Cash Plummets 97% Amid Net Loss and Faraday Future Investment

AIxCrypto Holdings, a company that operates in the digital asset space and also builds a robot-rental marketplace, has seen its cash reserves decline by a staggering 97% over six months. The company's balance sheet shows that it had $577,328 in cash as of June 30, down from $19.33 million at the end of December.

This significant decrease in cash is partly due to the company's net loss of $10.27 million in the first half of the year, as well as a financing outflow of $12 million for Faraday Future securities. The investment in Faraday Future was made through an arrangement with Gold King Arthur Holding Limited, which comprised $500,000 of Class A common stock and $11.5 million of Series C preferred stock.

AIxCrypto's digital assets also took a hit, falling in fair value to $5.21 million from $10.25 million at year-end. The company's Bitcoin holdings accounted for 52% of its June 30 portfolio, leaving the remaining holdings exposed to crypto-market volatility.