Venom Foundation has announced that it will no longer continue to operate at the Abu Dhabi Global Market (ADGM) as of December 14, 2023. The dissolution process has now been initiated in accordance with Section 40 of the ADGM Foundation Regulations 2017. This decision is consistent with its current strategic direction. Venom stated that the decision only relates to the current goals of the Venom Foundation and is not a reflection of the ADGM environment.
It should be noted that as of now, no token generation event has occurred with Venom. Any public statements by the Venom Foundation regarding the issuance of Venom tokens following a token generation event are untrue and have not been authorized by the Foundation.