XCAD Network declares bankruptcy: Funds exhausted, products and services will no longer be maintained.
2026.08.21 08:49:01
NFT content distribution platform XCAD Network announced in a statement that it will gradually cease operations. The project team said the company has no remaining funds, and keeping its token listed on exchanges has become a "doomed losing battle," while existing products and services will no longer be maintained. XCAD Network noted that the firm has operated for roughly 5 years, making it one of the few projects to sustain multi-year operations without securing a Tier 1 (T1) primary exchange listing. As retail investors gradually exit the crypto market, fan tokens failed to hit growth targets. The team had previously attempted to pivot to the AI influencer segment but ultimately fell short. The project added that there are insufficient funds to keep operations running, and it is considering open-sourcing the project code to let interested developers run it independently. However, this does not mean the company will continue operating, nor is it a project restart or re-launch. XCAD Network stated: "This is not a restart."
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