In 2022, the Venom Foundation was established under the ADGM Foundations Regulations 2017. We announce that as of December 14, 2023, Venom Foundation will no longer continue operating in ADGM and in accordance with section 40 of the regulations, the Foundation has initiated the dissolution process.
This decision aligns with our current strategic direction. It is important to highlight that our choice to dissolve is specific to our present objectives and not a reflection on the ADGM environment. Looking ahead, the Venom Foundation remains open to exploring future opportunities within ADGM.
Please note that as of today there has been no token generation event. Any public statement that the Venom Foundation has issued a Venom token following a token generation event is untrue and has not been authorized by the foundation.
