Fetch.ai (FET), which has been among the top achievers in the cryptocurrency sector for 2023, appears to be facing difficulties following its remarkable success. The company responsible for the artificial intelligence-powered digital currency is facing difficulties in the UK. Its British division has become entangled in a lawsuit amounting to millions of dollars, resulting in it being placed under administration. AI Encounters Challenges. Based on information provided by The Standard, Fetch.ai. The difficulties for the AI company began in the period from 2021 to 2022 when it suffered substantial financial setbacks as a result of widespread value declines in the cryptocurrency market. It’s been said that the company experienced a significant financial loss of 16.7 million pounds in this period and was forced to reduce the value of its assets by 231 million pounds. Further information can be found in an article discussing a conflict between alleged cryptocurrency fraudsters. A dispute emerges between Ape Terminal and MacnBTC regarding the controversial launch of SatoshiVM. Despite the rebound in FET’s value in 2023, the firm remained beset with issues and would ultimately face a lawsuit from an ex-contractor.