Venom Foundation has announced that it will cease its operations in the Abu Dhabi Global Market (ADGM) effective December 14, 2023. As per Section 40 of the 2017 ADGM Foundation Regulations, the dissolution process has been initiated. This decision aligns with its current strategic direction. Venom clarifies that this decision is specific to the current objectives of the Venom Foundation and does not reflect any negative sentiment towards the ADGM environment.
It's important to note that as of now, Venom has not undergone any token generation event. Any public statements regarding the issuance of Venom tokens by Venom Foundation after a token generation event are inaccurate and not authorized by the foundation.