After being put in administration, the UK firm was bought back by Sheikh last week via a new UK entity known as Assmbl.ai, according to advisors ReSolve who said they were tasked “to find urgent rescue capital or to secure a sale” and that Assmbl put forward “the best offer.” Another UK entity, also owned by Mr Sheikh, called ‘Fetch.ai 2024’ was established the following day. The FET crypto tokens are operated by a company based in Singapore and are not directly impacted by the UK administration, Fetch.ai said.