Token Dispute Centers on Unapproved Transfers in AI Merger
The dispute between Fetch.ai and Ocean Protocol centers on unapproved transfers of millions of tokens during the ASI Alliance merger with SingularityNET. Humayun Sheikh, CEO of Fetch.ai, raised concerns about the integrity of these transactions. He alleges that 719 million OCEAN tokens were minted and 661 million exchanged for FET without transparency.
Binance responded with a crucial step, ceasing support for ERC-20 OCEAN deposits. This act signals caution in handling assets tied to the dispute. These changes could drive market uncertainty. Meanwhile, Binance's guidance highlights the risk of loss for unsecured deposits.
The market's response has been significant, with calls for full disclosure. Sheikh's push for a class-action lawsuit represents a strong stand against alleged misconduct. Communities on platforms like Discord and Twitter are increasingly vocal. Additionally, Binance's restriction further emphasizes the gravity of this issue.
Price Drop and Expert Calls for Regulatory Measures
As reported by CoinMarketCap, Artificial Superintelligence Alliance, symbol FET, is trading at $0.27. The market cap is recorded at $634.99 million with a dominance of 0.02%. Over the past 90 days, FET's price dropped by 63.54%, reflecting the wider impact of ongoing token disputes. The circulating supply stands at 2.37 billion as of 09:00 UTC, October 24, 2025, underscoring the volatility within the blockchain industry.
Experts from the Coincu research team note that such disputes may push for stricter regulatory frameworks in token transfers to prevent future conflicts. The market is closely watching how these developments could potentially reshape alliance structures.
Key Points
- •Fetch.ai and Ocean Protocol address token dispute post ASI Alliance merger.
- •Resolution on the horizon for this blockchain controversy.
- •Market saw FET's notable price drop amid developments.
Resolution and Market Impact
Fetch.ai and Ocean Protocol Foundation are nearing a resolution to their dispute over token handling, reported by PANews on October 24, as they finalize an agreement to avert litigation.
Addressing these allegations of improper token transfers could stabilize market conditions, impacting FET and OCEAN tokens significantly, considering Binance's deposit restrictions and ongoing legal considerations.