Artificial intelligence-related tokens took a beating Thursday as markets stooped amid revelations the SEC had charged Terraform Labs’ CEO and fugitive, Do Kwon, with fraud.
Top AI tokens, including SingularityNet’s (AGIX), Fetch.ai’s (FET) and Artificial Liquid Intelligence’s (ALI) sank 14%, 12% and 11.5% respectively, representing some of the worst impacted assets above a $200 million market cap over the past 24 hours.
The market value for the entire AI sector dipped 11.2% from yesterday’s reading of $2.14 billion to $1.9 billion, marking the industry’s worst-performing sector, data provided by CoinGecko show.
Today’s decline can be viewed as a continuation of the unwinding occurring across AI-related digital assets following their incredible run up earlier this year. FET’s year-to-date performance for example — which began in earnest immediately following Jan. 1 — is a gain of 360%.
