The post Fetch.ai CEO seeks to soothe user concerns after Coinbase ASI merger snub appeared on BitcoinEthereumNews.com.

Fetch.ai (FET) founder, Humayun Sheikh, has sought to reassure users rattled by Coinbase’s decision to not support the company’s planned merger with SingularityNET (Agix) and Ocean Protocol (Ocean) into the Artificial Superintelligence Alliance. He said “all exchanges have their reasons and methods” but the tie-up will go ahead as planned. Also read: Coinbase says it will not facilitate Ocean-Fetch AI merger The merger of the three decentralized AI firms will lead to the creation of a new token called ‘Artificial Superintelligence,’ or ASI. All three tokens – FET, Agix, and Ocean, will combine to form ASI. The deal will be done in phases and the first phase is due to start on July 1, the companies say. Fetch.ai CEO says token holders should do ‘nothing’ On Wednesday, June 26, a few days before the merger process, Coinbase revealed that it would not back the tie-up. “Coinbase will not execute the migration of these assets on behalf of users,” the exchange said on X. The U.S. cryptocurrency exchange said it will continue to allow trading of FET and Ocean tokens until further notice, and provided a plan for users to move their tokens to ASI using a self-custodial wallet. In response, Sheikh posted on X (Twitter) that centralized exchanges such as Coinbase do not need to delist or relist the FET token, as it will remain in circulation during and after the merger. The Fetch.ai founder and CEO told existing holders of FET “to do nothing” with their tokens. He said, “We are working hard to resolve any issues please bear with us. All exchanges have their reasons and methods but the merger is going ahead and we are seeing huge support from all.” $fet is ASI. $ocean and $agix are merging into $fet. CEXs don’t need to delist or relist…

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Filed under: News - @ June 29, 2024 3:06 am