Joe Ayoub, co-founder of on-chain security platform Rug.AI: Will no longer participate in the company's daily operations due to shareholding disputes

Joe Ayoub, co-founder of Rug.AI, an artificial intelligence on-chain security platform, posted on X that he would no longer be involved in the day-to-day operations of the project. Ayoub revealed that he had previously resigned from a leading global institution and founded Rug.AI a year ago with a friend he considered trustworthy. As of today, he has no shares in the company, all of which are legally owned by his co-founders. But he has made it clear that Ayoub will need to take legal action to obtain equity in the company because he does not believe that the two have ever agreed to share holdings. He added that he has no real control over the direction of Rug.AI and therefore cannot act in the interests of users, investors and employees. For this reason, he cannot continue to participate in the company's day-to-day affairs. Last March, AI security platform Rug.AI announced the completion of a $1.1 million Pre-Seed round of financing, led by No Limit Holdings, with participation from institutions and angel investors such as Mask Network, Builder Capital, Formless Capital, Prismatic Capital, Roshun Patel, Pentoshi, Avi Felman, MacnBTC, and Andrej Radonjic. Rug.AI is an AI security platform dedicated to providing an end-to-end on-chain security solution.