The CEO of Fetch.ai, a company focused on artificial intelligence (AI), remains committed to their planned token merger despite Coinbase’s lack of support. In a recent update on X, Fetch.ai CEO Humayun Sheikh affirmed that the merger involving FET, Ocean Protocol (OCEAN), and SingularityNet (AGIX) is proceeding as scheduled.
“OCEAN and AGIX are merging into FET. Centralized exchanges (CEXs) need not delist or relist FET since it remains available. If you hold FET, no action is required. We are actively addressing any issues and appreciate your patience. The timeline remains unchanged. Coinbase has specified that the swap will occur via custodial wallets. Each exchange has its approach, but the merger is on track, bolstered by strong support,” Sheikh stated.
Earlier this week, Coinbase, a prominent US-based crypto exchange, announced its decision not to facilitate the token merger involving the three altcoins. Coinbase emphasized that users would need to initiate the migration independently.
“Ocean and Fetch.ai have announced their merger to establish the Artificial Superintelligence Alliance (ASI). Coinbase will not manage the migration of these assets on behalf of users… Once the migration begins, users can transfer their OCEAN and FET to ASI using self-custodial wallets like Coinbase Wallet. The ASI token merger will be compatible with all major software wallets.”
Initially unveiled in March, the merger aims to create an alliance focused on revolutionizing how AI is developed, shared, and utilized globally. Phase I of the merger is set to commence on July 1st.
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