AI-blockchain industry sidesteps courtroom battle through $120M token settlement
- Fetch.ai and Ocean Protocol agree to return 286M FET tokens ($120M) to resolve a 2024 merger dispute, avoiding legal action and restoring trust in AI-blockchain governance. - The feud arose after Ocean Protocol allegedly converted 661M OCEAN tokens into FET and transferred 160M to Binance and 109M to GSR Markets, which Fetch.ai accused of misappropriation. - Ocean Protocol denied wrongdoing, blaming FET's 93% price drop on market volatility and other alliance members' sales, while criticizing Fetch.ai fo
The prolonged disagreement between Fetch.ai and Ocean Protocol seems close to being settled, as both sides have agreed to return
The conflict, which became one of the most widely discussed disputes in the AI and blockchain world, began after the 2024 formation of the
Ocean Protocol has repeatedly
This resolution carries weight for the AI-blockchain field, which has faced doubts over transparency and governance. Since the ASI merger, Fetch.ai’s FET token has dropped more than 93% in value, while Ocean’s OCEAN token has also declined, recently trading at $0.30 after a 4% daily fall. Experts suggest the agreement could help restore investor trust, especially as the crypto sector faces broader instability. GeoStaking, a validator node that helped mediate the negotiations, confirmed Ocean Protocol’s readiness to return the tokens once a formal request is made, with news sources indicating the two sides are
This episode underscores the difficulties of running decentralized organizations, where differing governance approaches and liquidity plans can spark public disputes. Although the ASI Alliance set out to lead decentralized AI development, its breakup—after Ocean Protocol’s exit in October—highlighted the fragility of such partnerships. Should the token return go through, it may represent a fresh start for both projects, allowing them to concentrate on technological progress instead of legal strife; observers have cautioned that the dispute
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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