Overview
- Allied Gaming & Entertainment said it reached a comprehensive settlement with Knighted Pastures that closes the Delaware case, including the attorneys' fees award.
- As part of the agreement, the company said it has no basis to question the integrity or business practices of Knighted Pastures or its principal, Roy Choi.
- The company outlined a shift to AI products and a token-based ecosystem and said it aims to issue a cryptocurrency called Allied Coin in 2026 subject to legal and regulatory review.
- Shares moved sharply after the announcement, with Benzinga reporting a roughly 135% after-hours jump to $0.77 followed by additional gains in the next session.
- Allied plans to pursue mergers, acquisitions, and partnerships to build out its platform using an Asia-Pacific user base of more than 20 million, with execution and approvals now the key hurdles to watch.