The CEO of artificial intelligence (AI)-focused Fetch.ai (FET) says the planned token merger will still happen despite not being backed by Coinbase.
In a new thread on social media platform X, Fetch.ai CEO Humayun Sheikh says say that the planned AI token merger between FET, Ocean Protocol (OCEAN) and SingularityNet (AGIX) will still happen.
“OCEAN and AGIX merge into FET. Centralized exchanges (CEXs) do not need to remove or relist FET. It’s already there. If you hold FET, you don’t do anything. We are working hard to resolve any issues, please be patient.
The timeline hasn’t changed. Coinbase has only announced that the exchange will take place via custodial wallets. All exchanges have their own reasons and methods, but the merger is going ahead and we are seeing tremendous support from everyone.”
Earlier this week, top US exchange Coinbase announced that it would not support the token merger between the three altcoins. Coinbase said at the time that customers would have to initiate the merger themselves.
“Ocean and Fetch.ai have announced a merger to form the Artificial Superintelligence Alliance (ASI). Coinbase will not perform the migration of these assets on behalf of users…
Once the migration has started, users can 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.”
The merger was first announced in March and aims to create a Superintelligence Alliance, designed to change the rules of the game on how AI is “created, shared and used by everyone.”
Phase I of the merger is planned will take place on July 1.
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