Zetrix AI's Market Value Drops More Than 90% So Far in 2026

Zetrix AI's market value has fallen more than 90% during 2026 from a 10.5 billion ringgit peak; separately, the project faces risk of default on its Islamic bonds.

Founder Wong Thean Soon sold 2.22 billion shares after a margin call on a loan secured by his stock. He lost his position as Zetrix's largest shareholder.

Zetrix built a near-monopoly position through its online-services business in Malaysia before shifting toward AI and blockchain. The company planned a Nasdaq listing for its AI business.

Johor Crown Prince Ismail Ibrahim introduced RMJDT, a stablecoin backed by ringgit cash and short-term government bonds. Its issuance is planned on the Zetrix blockchain. Zetrix also plans to participate in Malaysia's effort to establish a national public blockchain.