Coinbase says it will not facilitate Ocean-Fetch AI merger

Share This Post

Coinbase said it would not facilitate the migration of two assets related to the Artificial Superintelligence Alliance (ASI) token merger in a June 26 statement.

Instead of executing migrations for Ocean Protocol (OCEAN) and Fetch.ai (FET) on behalf of users, the exchange plans to continue supporting trading for each asset until further notice.

Coinbase said it will allow users to perform migrations through their self-custodial wallets, including but not limited to Coinbase Wallet. Coinbase said the token merger would support “all major software wallets.”

Coinbase does not support trading of SingularityNET (AGIX), a third token that will merge with OCEAN and FET in July. It did not comment on AGIX in its latest statement.

Other exchanges declare support

Fetch.ai has described broader plans for exchanges to support the merger. Starting July 1, cooperating exchanges will close AGIX and OCEAN deposits and withdrawals while allowing FET deposits, withdrawals, and trading to continue. Exchanges will eventually delist AGIX and OCEAN.

The ASI token will launch in mid-July. Users will be able to convert tokens they hold in self-custody. Finally, exchanges will migrate spot markets from FET to ASI.

Several exchanges are roughly following the timeline. Bitfinex said it will halt the availability of affected tokens it currently supports on July 2. HTX, Bitget, Binance, and KuCoin have described plans to halt availability starting on July 1. Crypto.com will halt availability on June 28.

The above exchanges — excluding KuCoin — have already announced plans to automatically merge the three tokens for users but did not provide an exact date.

Merger to challenge Big Tech

The token merger and the creation of the Superintelligence Alliance represent coordination between three major crypto projects focused on the AI sector.

The merger aims to promote the growth of decentralized AI infrastructure, focusing on AGI and superintelligence while challenging Big Tech’s dominance over the sector. Furthermore, the strategy is expected to position the ASI token as the largest decentralized AI token by market cap.

The three existing tokens currently have a combined cap of $5.8 billion.

The post Coinbase says it will not facilitate Ocean-Fetch AI merger appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Ethereum Must Reclaim $2,050 To Start A Recovery Rally – Insights

Ethereum (ETH) is now trading below the crucial $2,000 mark, struggling to find momentum after days of selling pressure and consolidation around $1,900 The broader crypto market remains under heavy

24 Ways Crypto Investors Are Being Hunted by Cybercriminals—Wallets Drained at Record Speed

Crypto scams are draining wallets fast, using AI fraud, fake mining, and Ponzi schemes—so advanced that regulators struggle to keep up 24 Brutal Crypto Scams Hunting Investors — The Tactics

Whales Accumulate Over 420,000 Ethereum In Five Days – Rally On The Horizon?

Ethereum (ETH) has seen underwhelming price action this year, disappointing analysts and investors who expected a massive breakout Instead, ETH is now trading at its lowest levels since October 2023,

Cardano (ADA) Price Prediction for March 16

The post Cardano (ADA) Price Prediction for March 16 appeared first on Coinpedia Fintech News As the weekend approaches, the overall cryptocurrency market has begun to recover, showing signs of an

UK FCA’s Finprom Rules 1 Year Later: How to Kill an Industry in One Easy Step

As a lawyer (not yours), I spend a good chunk of my time explaining to businesses why they need to pour half their budget into compliance instead of, you know, actually building something useful But

Ethereum Cost Basis Data Signals Strong Support At $1,886 – Details

The Ethereum (ETH) market has experienced some recent good fortunes rising by over 5% in the past 24 hours Despite this price gain, the prominent altcoin remains in a downtrend as indicated by its