Fetch.ai Alleges Ocean Misused Tokens Before ASI Merger

The disagreement comes after the formation of the Synthetic Superintelligence (ASI) Alliance in 2024, which introduced collectively Fetch.ai, Ocean Protocol, and SingularityNET beneath a shared token system.

Sheikh claimed in a submit on X that Ocean Protocol issued a lot of OCEAN

OCEAN

$0.2248

tokens earlier than the merger and exchanged a portion for FET

FET

$0.2625

.

He mentioned these tokens have been then transferred to exchanges and market makers with out correct communication.

In line with Sheikh, Ocean created 719 million OCEAN tokens in 2023. Of these, 661 million have been swapped for 286 million FET tokens in July 2025.

Binance introduced that beginning October 20, the trade will not assist OCEAN token deposits through the ERC-20 community. Though different networks will stay obtainable, deposits made by means of ERC-20 after that date won’t be processed and should end in misplaced funds.

In response, Sheikh mentioned he plans to assist class-action lawsuits in a number of nations and inspired Binance, GSR, and ExaGroup to research the state of affairs. He additionally requested FET holders to collect data and promised to create a approach for them to submit claims.

In a submit on X, the Ocean Protocol crew referred to as the claims baseless and damaging. They mentioned their treasury stays safe and that they provided to make findings from a impartial get together public. In addition they acknowledged that they’re engaged on formal responses.

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