TechFlow news, October 24 — According to Cointelegraph, Fetch.ai and the Ocean Protocol Foundation are seeking a settlement over a token dispute. Fetch.ai CEO Humayun Sheikh stated during an X Spaces event on Thursday that the company would drop all pending legal actions if the Ocean Protocol Foundation returns the 286 million FET tokens allegedly sold during the merger period.
Blockchain data platform Bubblemaps shows that a multi-signature wallet linked to Ocean Protocol converted approximately 661 million Ocean tokens into 286 million FET tokens, worth around $120 million. Of these, 160 million FET tokens were transferred to Binance and 109 million to GSR Markets.
Earlier reports indicated that Ocean Protocol exited the Artificial Superintelligence Alliance (ASI) on October 9. Since the alliance's formation, the FET token price has dropped more than 93%. Ocean Protocol attributed the sharp decline primarily to heavy selling by SingularityNET and Fetch.ai, as well as the failure of Fetch.ai’s high-risk "TRNR" trades, rather than its own exit from the alliance.
