Key Takeaways
- Phantom confronted criticism after Ace of AI introduced a supposed partnership, inflicting funding in ACE.
- Clarification by Phantom that it was not an official partnership led to ACE token’s worth drop.
Phantom, a distinguished multi-chain crypto pockets supplier, confronted criticism after their social interplay with Ace of AI, which many interpreted as a proper partnership between the 2 initiatives, led to confusion and investor losses.
On Jan. 9, Ace of AI introduced on X that they had been “excited to companion with Phantom” as a part of the Phantom embedded early entry program. Phantom replied to Ace of AI’s tweet with a sequence of emojis that had been interpreted as an official partnership.
The announcement led to a surge within the worth of Ace of AI’s token, ACE. In keeping with knowledge from GeckoTerminal, the token rocketed to $0.017 following the information.
Phantom later deleted the remark and clarified in a separate assertion that Ace of AI was merely utilizing their embedded pockets product and that no partnership or endorsement existed. They stated they had been unaware their service could be used to endorse any token.
ACE’s worth shortly plummeted after Phantom’s clarification. Presently, it’s buying and selling at roughly $0.0005, down over 90% from its preliminary rally.
Customers on X began confronting Phantom and questioning their communication method. Many traders reported that they felt misled by the perceived affiliation between the 2 corporations and suffered monetary losses.
