Mar 5, 2025 : Miami, USA Cryptyk Inc announced today that it has been acquired by DocSafe LLC, a new US based startup that includes several of the original members of the Cryptyk technology team and CTK community to join some new DocSafe stakeholders. In a part acquistion / part management-buy-out (MBO) transaction, DocSafe has acquired Cryptyk's Web3 storage technology, intellectual property, domain assets and all digital token assets. The existing corporate entity Cryptyk Inc has now now been formally closed down. This transaction required over $700,000 of balance sheet debt to be forgiven by Cryptyk's major debt owner in Dr Adam Weigold in return for additional DocSafe equity. As the driving force behind Cryptyk's technology, Dr Weigold will join the DocSafe team in a directorial and advisory capacity.
DocSafe's strategy is to build and integrate Cryptyk's Web3 technology into its existing range of AI business tools to offer a true Web4 business document ecosystem. This will involve launching its own digital token called the Docubit which will serve to power blockchain auditing tasks, raise additional development funds and offer investors financial rewards via asset growth and asset staking products. DocSafe is currently evaluating several blockchain networks for the Docubit token, including Solana and Polygon. It is important to note that the token launch will also offer all existing Cryptyk Token holders an early-bird opportunity to convert their CTK into Docubits at a favourable exchange rate with Phase 1 of the token sale event being open to purchase in both USDT and CTK. The KYC / AML processes to be implemented during the token sale will effectively migrate all the legitimate CTK holders to Docubits while filtering out all the bad actors and stoken CTK tokens that resulted from the Cointiger rug-pull / hacking event that occured in February 2024.
Cryptyk Founder and DocSafe Director Dr Adam Weigold commented today that "this MBO acquisition was a complex transaction to structure but it is definitely the best solution for both Cryptyk equity stakeholders and the CTK token community at large. The benefits of this transaction include (a) the elimination of $700k of Cryptyk's operating debt under a new cleaner corporate entity to make equity investment much more attractive, (b) the removal of legacy stakeholders who are no longer involved in the technology or business, (c) the rebranding of Cryptyk technology and digital currency under a new Web4 brand, (d) the integration of Cryptyk technology and its existing token holder community with new AI technology and a fresh digital token, (e) the migration of Cryptyks digital tokens to a faster and cheaper network than Ethereum resulting in better performance and lower costs for the Web3 storage technology, and (f) the filtering out of bad actors / criminals in the CTK token holder community so that Docubits can be more readily grown in price and trading volume without fear of the massive dumping experienced by CTK Tokens. Ultimately DocSafe will deliver a better product than Cryptyk had originally planned to offer, and Cryptyk Token holders will be able to convert their tokens into a more secure, tradable and liquid digital token with much more long term upside. This is definitely a massive leap forward from a technology point of view with the addition of AI prompting evolution from Web3 offerings into a more intelligent Web4 product."
Cryptyk Token holders are advised to subscribe to DocSafe at www.docsafe.ai so that they can be updated of future developments with the Docubit token launch (and ultimately convert their CTK tokens into Docubits). They are also advised to join the DocSafe social media groups to stay up to date on events as they happen. Note that both the cryptyk.com and cryptyk.io websites will soon be closed down over the coming months once the formal announcement and schedule of the Docubit token event is released. Cryptyk token holders are also encouraged to check out DocSafes current range of 35+ Creative AI tools that can now be purchased for only $19.95 per month.
For more about DocSafe Web4 technology visit www.docsafe.ai
For more about Cryptyk Web3 technology visit cryptyk.com
For more about Cryptyk Tokens (CTK) visit cryptyk.io
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