According to information revealed on October 24 by PANews, Fetch.ai and Ocean Protocol Foundation are finalizing an agreement to resolve their dispute over token handling, seeking to avoid litigation. The controversy arose after Humayun Sheikh, CEO of Fetch.ai, reported alleged irregularities in token transfers during the ASI Alliance merger, which generated strong market uncertainty.
The core of the Fetch.ai and Ocean Protocol dispute lies in the alleged unauthorized minting of 719 million OCEAN tokens and the exchange of 661 million for FET without transparency, according to Sheikh. The impact was immediate: Binance responded by ceasing support for OCEAN (ERC-20) deposits, signaling the risk. Reflecting this, the FET token suffered a 63.54% drop in the last 90 days, currently trading at $0.27.
While the resolution seeks to stabilize the assets, the market remains attentive to the consequences. It appears this Fetch.ai and Ocean Protocol dispute could force the development of stricter regulatory frameworks for token transfers in future mergers, in order to protect the integrity of alliances and restore investor confidence.
Source: https://www.panewslab.com/zh/articles/2cac7138-7e40-42ee-bb36-22812b7e25a9
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