Fetch.ai's leadership has announced a significant $50 million buyback program for its FET tokens, targeting multiple exchanges to address the token's perceived undervaluation. CEO Humayun Sheikh expressed confidence that FET is currently trading below its true potential and emphasized the buyback as a strategic move to tighten supply and support liquidity in the ecosystem.
The buyback is notable in the crypto industry, as it diverges from common practices like token burns or staking rewards, opting instead for open-market acquisitions. This move reflects Fetch.ai's response to tangible ecosystem growth since its launch in 2017, especially as its autonomous AI agents powered by the ASI1 infrastructure witness accelerated adoption across sectors including decentralized finance and IoT automation.
Recent partnerships, such as with AkedoFun to integrate AI agents into gaming platforms, highlight increasing demand for Fetch.ai's technology. The foundation's strategic buyback could mitigate a looming supply crunch as utility and usage rise, positioning tokens as essential fuel rather than mere tradable assets.
Following the announcement on June 19, 2025, FET's price surged over 7%, appreciating from a daily low near $0.64 to highs surpassing $0.70 before stabilizing around $0.68. Market capitalization now stands at approximately $1.66 billion, approximately 80% below its all-time high of $3.47 from March 2024.