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Home»ETHEREUM NEWS»AI Crypto Startup O.XYZ Faces Allegations of Misrepresentation and Internal Disruption: Source
ETHEREUM NEWS

AI Crypto Startup O.XYZ Faces Allegations of Misrepresentation and Internal Disruption: Source

By Crypto FlexsNovember 23, 20246 Mins Read
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AI Crypto Startup O.XYZ Faces Allegations of Misrepresentation and Internal Disruption: Source
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O.

Founder Ahmad Shadid defended both his and the company’s actions, but spoke with several sources familiar with the company’s operations. decryption O. refutes the public’s claims, alleging widespread misrepresentation of XYZ’s capabilities.

O.XYZ has established itself as a community-owned “super AI” ecosystem. The company claims that it can leverage significant GPU computing power to deploy tens of thousands of open source models to run a variety of tasks.

Sources claim the company overstated its capabilities, falsely saying it could connect to more than 100,000 AI models, run 20 times faster than its competitors, and possessed powerful hardware it didn’t actually have.

They are also accused of inflating the value of satellite programs and misrepresenting token launches, raising questions about transparency and accountability.

As a result of these claims, sources claim that holders of the company’s recently launched O.XYZ tokens are at risk of harm.

From the statement sent by email decryptionShadid issued a detailed response to concerns raised about the company’s claims, insisting that O.XYZ’s promotional language is “forward-looking” and consistent with its development roadmap.

However, the interviewee said decryption Challenge this characterization by pointing to investor presentations that describe the materials and capabilities of the O.XYZ website as existing rather than aspirational.

Last June, Shadid resigned as CEO of IO.net, the Solana-based decentralized infrastructure provider he founded. This is due to allegations surrounding his past and misreported company metrics, and he noted that his decision was a move to reduce distractions and focus on growing the company.

A public statement issued while Shadid was leaving the IO has since deleted On Twitter (aka X). To avoid conflict and distance from Shadid, the IO agreed to provide a ‘six-figure severance package’, a source familiar with the matter said. decryption. IO earlier this year Raised $30 million Series A round from prominent cryptocurrency industry investors including Hack VC, Solana Labs, Aptos Labs, Multicoin Capital, and Animoca Brands.

Multiple sources who previously worked with Shadid described him as a “smart and capable individual” who managed at every turn to assemble a highly skilled team for the job. But both former employees and investors, who did not want to be named, said they would “never work with Shadid again.”

Controversy over infrastructure and performance claims

In response to claims that O. claimed. He cited benchmarks of the Cerebras WSE-3 chip as evidence of the O.XYZ performance leap.

The source dismissed the claims as “categorically false” and claimed that O.

“There is no internal benchmarking that supports the 20x figure,” one source said, noting that the company’s routing technology may actually increase latency rather than reduce it.

Misleading Starlink and Partnership Claims

O.XYZ also touted Shadid as being powered by SpaceX’s Starlink, emphasizing the integration of the technology within the company’s operations.

He also said the claim refers to O.XYZ’s ongoing infrastructure roadmap, including plans for “maritime connectivity solutions” and future AI capabilities in space scheduled for 2026.

But sources strongly dispute that story. Instead, they claim that Starlink is only used for basic internet connectivity in remote areas and plays no role in AI processing.

“No satellite design exists within the company and there is no engineering team capable of developing such a capability,” one source said. decryption. They added that despite impressions from marketing materials, there are no ongoing discussions with SpaceX.

Shadid’s response also addressed the display of logos from major organizations such as OpenAI and Neuralink, arguing that they were used to indicate the background of contributors rather than formal partnerships.

However, sources claim the practice is misleading investors and customers, as contributors reportedly requested the logo be removed after leaving the company, a request that has yet to be resolved.

Controversy over token launch

Another flashpoint came on October 15 when the company launched its O.XYZ token through several “little-known” exchanges. While tokens average out $23,000 With a fully diluted token supply value of just $8.1 million in daily trading volume across all exchanges, sources say it is only a matter of time before token holders suffer.

“There is no way to use the tokens to pay for things like API calls to the company’s AI, nor does it give token holders any legal rights to the company’s assets,” one source said.

Shadid characterized the “initial liquidity pool activation” as occurring during a “testing phase” and being “immediately communicated to the community.”

“After a thorough analysis of market conditions, we made the strategic decision to proceed with the launch rather than withdraw liquidity, effectively advancing our planned token launch schedule,” Shadid said.

He added, “This decision was communicated transparently through various channels, including Discord and internal communication.” “While the initial activation was unplanned, the subsequent decision to maintain the availability of the token was deliberate and strategic. “We maintain comprehensive documentation of all communications throughout this process, demonstrating our commitment to transparency with both our community and stakeholders.”

One former employee, who did not want to be named for fear of retaliation, said he was offered financial incentives under a non-disclosure agreement after questioning the ethical implications of the launch.

Another source claimed, “Shadid was testing his trading algorithm when the ‘incident’ occurred.”

“While testing the O.CAPITAL market maker quant system, a pool was created on Uniswap and tokens were inadvertently activated,” according to a screenshot from the review. decryption Shadid’s message posted to a general Slack channel for all employees to see. “I can’t get it off.”

Secret recordings also reviewed decoding This appears to contradict Shadid’s explanation. According to sources, the token release was intentional and employees were told different stories. Some say it was intentional, others say it was a “mistake.”

“It’s completely counter to what company documents that are available to the public would lead people to believe in transparency and community ownership,” one source said. “Ahmad effectively owns all the tokens and can dump them at will.”

Allegations of Retaliatory Practices

Sources claim O.XYZ used non-disclosure agreements to suppress dissent. They described a culture of retaliation, including termination following inquiries into company operations.

“The NDA is being weaponized to silence legitimate concerns,” one source claimed.

Shadid defended the company’s contractor-based hiring model and strict confidentiality agreements, saying these practices are industry standards.

Shadid did not directly address the allegations of retaliation, but emphasized O.XYZ’s commitment to “clear and accurate communication” and “comprehensive documentation” of its strategic objectives.

In any case, these claims have led several former employees and contributors to seek legal advice. source decryption The former employees said they are now exploring additional options to uncover O.XYZ’s alleged practices.

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