A battle involving Fetch.ai’s CEO, Humayun Sheikh, and the Ocean Protocol Basis has led to authorized threats and modifications in token dealing with by Binance
$8B
.
The disagreement comes after the formation of the Synthetic Superintelligence (ASI) Alliance in 2024, which introduced collectively Fetch.ai, Ocean Protocol, and SingularityNET below a shared token system.
Sheikh claimed in a put up on X that Ocean Protocol issued numerous OCEAN
$0.2660
tokens earlier than the merger and exchanged a portion for FET
$0.2949
.
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He stated 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 help OCEAN token deposits through the ERC-20 community. Though different networks will stay obtainable, deposits made by means of ERC-20 after that date is not going to be processed and will lead to misplaced funds.
In response, Sheikh stated he plans to help class-action lawsuits in a number of international locations and inspired Binance, GSR, and ExaGroup to analyze the scenario. He additionally requested FET holders to collect info and promised to create a method for them to submit claims.
In a put up on X, the Ocean Protocol group referred to as the claims baseless and damaging. They stated their treasury stays safe and that they supplied to make findings from a impartial social gathering public. In addition they acknowledged that they’re engaged on formal responses.
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