ai16z Founder Shaw Destroys Purchased FUN Tokens, No Plans for Official auto.fun
On April 17, 2025, Shaw, the founder of ai16z, clarified the status of the FUN tokens purchased on pump.fun. Shaw announced that there are no current plans to launch an official auto.fun token and explained that the purchase of FUN was merely for promotional purposes. He mentioned sending his supply to a DAO, subsequently tweeting that he has destroyed all purchased FUN tokens. This move suggests Shaw’s intention to distance ai16z from any official association with FUN tokens amidst potential market speculation.
Neutral
The news reveals that Shaw has destroyed the FUN tokens he had purchased, which suggests that there will be no immediate new developments for traders to act upon. Since the announcement negates any official association with FUN tokens by ai16z and clarifies the lack of plans for an auto.fun token, traders are likely to interpret this as a neutral development. The destruction of tokens reduces any hype or speculation, maintaining stability without triggering significant market reactions.