Fetch.ai officially responded to rumors of bankruptcy, stating that Fetch.ai Ltd (UK) appointed ReSolve Advisory Limited as administrators on January 23, successfully selling its UK business assets to Assmbl.ai. An article in the Evening Standard incorrectly implied that Fetch.ai had gone bankrupt after financial difficulties. This is not the case. The Fetch.ai Foundation is not within the scope of management. The Fetch.ai Foundation and its FET tokens still have operability and value.

Fetch.ai has announced that it is relocating its business to Dubai, and therefore needs to restructure. The Evening Standard reporter mistakenly believed this restructuring to be a shutdown and did not realize that the global entity of the brand was not affected. The UK entity will relocate to Dubai and the FET token distribution (according to the token economics paper released in 2018/2019) was mistaken for asset depletion.