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Artificial Superintelligence Alliance Dispute Escalates, Fetch.ai Demands Ocean to Return Around $120 Million Worth of FET Tokens
BlockBeats News, October 24th, according to Cointelegraph, Fetch.ai and Ocean Protocol are currently seeking a resolution to a token dispute, but both parties are currently at odds. The Fetch.ai CEO stated during Thursday's X Spaces that if Ocean Protocol returns the 2.86 billion FET tokens allegedly sold during the merger, the company will withdraw all pending legal actions. According to Bubblemaps data, a multi-signature wallet associated with Ocean Protocol converted around 6.61 billion Ocean tokens into 2.86 billion FET tokens, totaling approximately $120 million in value.
Previously reported, yesterday Ocean Protocol published a post outlining the reasons for leaving the Artificial Superintelligence Alliance (ASI), accusing partners SingularityNET (AGIX) and Fetch.ai (FET) of violating the alliance's core commitment to "each party retaining control of their assets." The merged FET token price plummeted 93% from its peak, mainly due to significant sell-offs by SingularityNET and Fetch.ai, as well as Fetch.ai's own high-risk "TRNR" transaction failure, rather than Ocean Protocol's exit.
In 2024, SingularityNET (AGIX) merged tokens with Fetch.ai and Ocean Protocol to form the Artificial Superintelligence Alliance (ASI), and the merged token was ultimately named ASI, completed on June 13, 2024.
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