According to a report from The Standard, Fetch.ai lost £16.7 million during the widespread cryptocurrency price crash from 2021 to 2022 and had to write down its assets by £231 million. Despite a price recovery for FET in 2023, the company was still sued by former contractors. Fetch.ai paid approximately $1 million (including interest) to the contractors who claimed they were owed 750,000 unpaid FET tokens as part of a transaction. The company was plagued by "financial difficulties" and was placed under administration by court order to save the business. Being placed under administration means that a third party unrelated to the company gains control and investigates the financial situation before proposing a way forward. For Fetch.ai, after formally filing for bankruptcy, administrators from ReSolve were appointed to oversee the process.

After entering administration, Fetch.ai made significant progress. The company was listed for sale and eventually bought back by a consortium of Fetch.ai founders after being handled by administrators from ReSolve. According to ReSolve, the entity was sold back to the consortium owned by the founders.