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- Fetch.ai offered to cancel all legal claims if Ocean Protocol returns 286M FET tokens.
- Ocean may agree to the deal once the offer is formalized in writing.
- A peaceful resolution could restore investor confidence and end months of tension.
The months-long standoff between Fetch.ai and Ocean Protocol may finally be nearing resolution. After weeks of public accusations and legal threats, both sides appear ready to settle their differences without dragging the feud into court.
Fetch.ai Proposes Peace Deal Over 286 Million FET Tokens
Fetch.ai CEO Humayun Sheikh announced Thursday that the company would drop all pending legal actions if Ocean Protocol returns the 286 million FET tokens allegedly sold during their merger. Speaking on an X Spaces broadcast, Sheikh said, “The offer is simple: give my community back the tokens. I will drop every legal claim.”
📣Tune in live today at 20:00 UTC to an open conversation with https://t.co/kJ9URVqmjT CEO – Humayun Sheikh as we openly discuss Ocean's response and claims. https://t.co/hKfrCBIKjC
— Fetch.ai (@Fetch_ai) October 23, 2025
Sheikh also offered to cover all legal fees associated with the dispute, signaling a strong intent to close the matter quickly. GeoStaking, a validator node helping mediate the talks, confirmed that Ocean Protocol is open to returning the tokens once the proposal is formally submitted in writing.
Ocean Protocol Under Pressure Over $120 Million Conversion
Blockchain data shows that a multisignature wallet linked to Ocean Protocol converted around 661 million OCEAN tokens into 286 million FET, worth roughly $120 million at the time. Of those, 160 million FET reportedly went to Binance and 109 million to GSR Markets.
Ocean Protocol has denied any wrongdoing, claiming the accusations are misleading. Founder Bruce Pon argued that the steep decline in FET’s price—from $3.22 in March 2024 to $0.26 today—was driven by market volatility and large token sales from within the ASI Alliance, not Ocean’s exit.
Also Read: Dogecoin’s $18 Dream: Is the Bullish Forecast Too Far-Fetched or Just the Beginning?
Avoiding a Costly Legal Battle
If both sides finalize the agreement, the dispute could end without costly litigation or further reputational damage. Sheikh’s proposal could be formally presented as early as Friday, potentially marking a significant turning point for both AI blockchain projects.
What began as a bitter clash over $120 million in tokens may now close with an olive branch. A peaceful resolution would restore investor confidence and allow Fetch.ai and Ocean Protocol to refocus on building decentralized AI infrastructure rather than battling in court.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
