Ocean, Fetch.ai feud escalates to legal threats as Binance restricts deposits
Fetch.ai CEO Humayun Sheikh accused Ocean Protocol of mishandling ASI tokens, pledging to fund class-action suits to “expose the truth.”
A feud between Fetch.ai CEO Humayun Sheikh and the Ocean Protocol Foundation has escalated into legal threats, onchain accusations, and a reaction from Binance, all centering on about 286 million Fetch.ai (FET) tokens worth roughly $84 million.
The conflict stems from the Artificial Superintelligence (ASI) Alliance, a 2024 merger that combined AI-focused crypto projects Fetch.ai, Ocean Protocol and SingularityNET under a shared token framework.
On Wednesday, Sheikh alleged that Ocean Protocol minted and transferred millions of OCEAN tokens before the merger. He said the project later converted them into FET and moved large sums to centralized exchanges and market-making firms without proper disclosure.
