Fetch.ai CEO Says AI Token Merger Going Ahead Despite Coinbase Snub, Tells FET Holders To Do Nothing

The CEO of artificial intelligence (AI)-focused Fetch.ai (FET) says its planned token merger will still take place despite not being supported by Coinbase.

In a new thread on the social media platform X, Fetch.ai chief executive Humayun Sheikh says that the planned AI token merger between FET, Ocean Protocol (OCEAN) and SingularityNet (AGIX) is still slated to happen.

“OCEAN and AGIX are merging into FET. Centralized exchanges (CEXs) don’t need to delist or relist FET. It is there already. If you hold FET, do nothing. We are working hard to resolve any issues please bear with us.

The timeline has not changed. Coinbase has only announced that the swap will be via custodial wallets. All exchanges have their own reasons and methods but the merger is going ahead and we are seeing huge support from all.”

Earlier this week, top US-based crypto exchange Coinbase announced that it would not be supporting the token merger between the three altcoins. At the time, Coinbase said that customers would have to initiate the merger on their own.

“Ocean and Fetch.ai have announced a merger to form the Artificial Superintelligence Alliance (ASI). Coinbase will not execute the migration of these assets on behalf of users…

Once the migration has launched, users will be able to migrate their OCEAN and FET to ASI using a self-custodial wallet, such as Coinbase Wallet. The ASI token merger will be compatible with all major software wallets.”

First announced in March, the merger aims to form a Superintelligence Alliance designed to change the game on how AI is “created, shared and used by everyone.”

Phase I of the merger is scheduled to take place on July 1st.

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