Fetch.ai founder breaks silence on Coinbase merger rejection

Fetch.ai Founder Breaks Silence on Coinbase ASI Merger Rejection

The industry now awaits the July 1 start of the Artificial Super Intelligence (ASI) Alliance merger between Fetch.ai (FET), SingularityNET (AGIX) and Ocean Protocol (OCEAN). In a bid to bring clarity to the community, Humayun Sheikh, the founder of Fetch.ai, has come out clean Air about the role of the Coinbase exchange in the process.

The industry is now looking ahead to the July 1st commencement of the Artificial Superintelligence Alliance (ASI) merger between Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN). In an attempt to provide clarity to the community, Humayun Sheikh, the founder of Fetch.ai, has come forward clean Air about the role of the Coinbase exchange in the process.

Friday, 06/28/2024 – 09:51

Will Ethereum (ETH) Hit $7,500? Analyst Makes Bold Claim

In an unusual move, Coinbase has revealed that it does not plan to support the three-way token merger. In response to this, Humayun noted that this will not be a problem as centralized exchanges (CEX) do not need to list or re-list FET. This, he noted, is because FET is already included in these platforms.

$fet it is LIKE THAT. $ ocean and $agix are merging into $fetCEXs do not need to be retired or relisted $fet already there. if you hold $fet do nothing. We are working hard to resolve any issues, please be patient with us. The timeline has not changed. @coinbase He has only announced that the exchange will take place…

— Humayun (@HMsheikh4) June 27, 2024

According to the merger agreement, the duo AGIX and OCEAN will first be integrated into FET in a predefined ratio that was previously revealed. After this, FET will be transformed into an ASI token. For the founder of Fetch.ai, the team has started a dialogue with Coinbase and hopes to reach some resolutions soon.

He pointed out to the community the fact that while Coinbase said its main exchange will not support the alliance, he noted that the trading platform also confirmed that swaps from one of the alliance tokens to another will be done through their custodial wallets. Humayun noted that different trading platforms have their unique processes to support the ASI Alliance.

Fri, 06/28/2024 – 05:19

Looking for the next XRP? Pay attention to Meme coins, says top analyst

Ultimately, Humayun noted that many exchanges support the merger and that the process will continue as planned. The respective tokens are experiencing intense selling pressure at the moment, considering the uncertainty in the ecosystem.

At the time of writing, FET is down 10.42% in 24 hours to $1.45, AGIX is down 9.14% to $0.6118 and OCEAN is down more than 9% to $0.6092.