Coinbase says it will not facilitate Ocean-Fetch AI merger

Coinbase said it would not facilitate the migration of 2 assets related to the Artificial Superintelligence Alliance (ASI) token merger successful a June 26 statement.

Instead of executing migrations for Ocean Protocol (OCEAN) and Fetch.ai (FET) connected behalf of users, the speech plans to proceed supporting trading for each plus until further notice.

Coinbase said it volition let users to execute migrations done their self-custodial wallets, including but not constricted to Coinbase Wallet. Coinbase said the token merger would enactment “all large bundle wallets.”

Coinbase does not enactment trading of SingularityNET (AGIX), a 3rd token that volition merge with OCEAN and FET successful July. It did not remark connected AGIX successful its latest statement.

Other exchanges state support

Fetch.ai has described broader plans for exchanges to enactment the merger. Starting July 1, cooperating exchanges volition adjacent AGIX and OCEAN deposits and withdrawals portion allowing FET deposits, withdrawals, and trading to continue. Exchanges volition yet delist AGIX and OCEAN.

The ASI token volition motorboat successful mid-July. Users volition beryllium capable to person tokens they clasp successful self-custody. Finally, exchanges volition migrate spot markets from FET to ASI.

Several exchanges are astir pursuing the timeline. Bitfinex said it volition halt the availability of affected tokens it presently supports connected July 2. HTX, Bitget, Binance, and KuCoin person described plans to halt availability starting connected July 1. Crypto.com volition halt availability connected June 28.

Exchanges mostly said they would automatically merge the 3 tokens for users but did not supply an nonstop date.

Merger to situation Big Tech

The token merger and the instauration of the Superintelligence Alliance correspond coordination betwixt 3 large crypto projects focused connected the AI sector.

The merger aims to promote the maturation of decentralized AI infrastructure, focusing connected AGI and superintelligence portion challenging Big Tech’s dominance implicit the sector. Furthermore, the strategy is expected to presumption the ASI token arsenic the largest decentralized AI token by marketplace cap.

The 3 existing tokens presently person a combined headdress of $5.8 billion.

The station Coinbase says it volition not facilitate Ocean-Fetch AI merger appeared archetypal connected CryptoSlate.