Key dealers
- Phantom faced criticism after AI announced by AI an adopted partnership and causing investment in ACE.
- Clarification of Phantom that it was not an official partnership led to Ace Token’s Value Drop.
Phantom, a prominent multi-chain crypto wallet supplier, faced criticism after their social interaction with ACE by AI, which many interpreted as a formal partnership between the two projects, led to confusion and investors.
On January 9, AI of AI announced at X that they were “happy to cooperate with Phantom” as part of Phantom Invested Early Access program. Phantom responded to ACE from AI’s tweet with a series of emojis that was interpreted as an official partnership.
The announcement led to an increase in the price of AI’s token, ACE. According to data From the geyck terminal, the token shaved to $ 0.017 after the news.
Fantom later deleted the comment and clarified in a separate statement that ACE of AI only used its embedded wallet product and that there was no partnership or approval. They said they were not aware that their service would be used to support all the tokens.
There is no partnership. @ACEAFAI only uses our embedded wallet product. We do not support any token and were not aware that we would be used to doing so.
– Phantom (@phantom) January 9, 2025
Ace’s value dropped rapidly after Phantom’s clarification. Currently, it is traded at about $ 0.0005, a decrease of over 90% from its first rally.
Users at X began to confront phantom and question their communication method. Many investors reported that they felt misled by the perceived association between the two companies and LED financial losses.
If there is no partnership, why did it @Adamdelphantom Retweet 👻🤝 👻🤝 ♠ ️?
0 Excuse or Responsibility taken by @Phantom
We are literally getting robust here because of your incompetence https://t.co/8qaaxuwq0g
– Psycho (@psychoscalls) January 9, 2025
Phantom Robust everyone and pulled out $ 400k from the chart pic.twitter.com/m8nqz4sa5a
– Lynk (@Lynk0x) January 9, 2025
