ElizaOS Founder Shaw Walters Says Project’s Token Is “Dead” as Foundation Winds Down

TL;DR

• Shaw Walters declared that the native token of Eliza Labs is “dead” and announced the closure of the foundation associated with the project.
• The team used the remaining treasury and available funds to reach a settlement with the plaintiffs represented by Burwick Law in a federal class action lawsuit.
• Walters confirmed that he will not launch or endorse any token linked to the project in the future, although he will continue developing the open-source framework.

Shaw Walters, founder of Eliza Labs and of the artificial intelligence agent framework ElizaOS, publicly announced that the native token associated with the project is “dead” and that the linked foundation will begin its closure process. The announcement was made through an extensive post on platform X, in which Walters detailed the circumstances that led to this decision.

According to the founder, the law firm Burwick Law filed in April 2025 a federal class action lawsuit before the U.S. District Court for the Southern District of New York. The complaint targeted Walters, Eliza Labs and other affiliated entities for false advertising, deceptive practices, negligent misrepresentation and unjust enrichment.

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