CEO of FET operator Fetch.ai offers reassurance after UK firm administration amid $1 million court case

The boss of Fetch.ai has sought to allay investor concerns after the firm’s UK business was put into administration over “financial difficulties” following a million-dollar London court case.

In an interview with the Standard, founder Humayun Sheikh insisted it was “business as usual” for the tech firm and creator of the FET cryptocurrency as he outlined plans to restructure as part of a shift in operations from the UK to Dubai.

Fetch.ai’s UK entity was put into administration earlier after company filings suggested it was in “financial difficulties” and its directors believed it was “likely to become unable to pay its debts.”