Ocean Protocol Denies Token Theft Allegations as ASI Alliance Rift Deepens

Ocean Protocol Foundation has vehemently denied accusations of token theft made by Fetch.ai CEO Humayun Sheikh following Ocean Protocol's withdrawal from the ASI Alliance, which also included SingularityNET. Sheikh accused Ocean Protocol of illicitly selling over $100 million in community tokens before leaving. The Foundation counters that community tokens are held by Ocean Expeditions, an independent Cayman Islands legal trust established in June 2025, which has no legal obligation to the ASI Alliance merger agreement. On-chain analysis showed significant token conversions (OCEAN to FET) prior to the planned merger. The dispute has caused market volatility, with FET and OCEAN prices dropping significantly. Ocean Protocol Foundation labeled Sheikh's claims as "false, misleading, and libelous," asserting that Fetch.ai has yet to fulfill its obligation to inject FET into the OCEAN:FET bridge contract. To restore reputation, Ocean Protocol plans to buy back and burn $OCEAN tokens using project profits.

(Source：BeInCrypto)