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 underneath a shared token system.

Sheikh claimed in a publish on X that Ocean Protocol issued numerous OCEAN

OCEAN

$0.2234

tokens earlier than the merger and exchanged a portion for FET

FET

$0.2886

.

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

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

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

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

In a publish on X, the Ocean Protocol staff referred to as the claims baseless and damaging. They stated their treasury stays safe and that they supplied to make findings from a impartial occasion public. In addition they acknowledged that they’re engaged on formal responses.

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