Coinbase Will Not Facilitate Ocean-Fetch AI Token Merger
Thursday, June 27, 2024 12:16 AM
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Coinbase has announced that it will not facilitate the upcoming merger of the Ocean Protocol (OCEAN) and Fetch.ai (FET) tokens related to the Artificial Superintelligence Alliance (ASI). The exchange will continue to support trading for both tokens until further notice but will not execute migrations on behalf of users. Instead, Coinbase will allow users to perform migrations through self-custodial wallets, including Coinbase Wallet. The token merger aims to promote the growth of decentralized AI infrastructure and challenge Big Tech’s dominance in the AI sector. The ASI token is expected to become the largest decentralized AI token by market cap, with a combined cap of $5.8 billion for the three existing tokens. Other exchanges, such as Bitfinex, HTX, Bitget, Binance, and Crypto.com, have announced plans to support the merger and automatically merge the tokens for users, although the exact timeline varies.
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