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Home»ALTCOIN NEWS»Coinbase will not support the upcoming AI token merger between Fetch.ai, Ocean Protocol, and SingularityNET
ALTCOIN NEWS

Coinbase will not support the upcoming AI token merger between Fetch.ai, Ocean Protocol, and SingularityNET

By Crypto FlexsJune 29, 20242 Mins Read
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Coinbase will not support the upcoming AI token merger between Fetch.ai, Ocean Protocol, and SingularityNET
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Coinbase, the top US exchange, will not promote plans to merge several AI altcoin projects into one new cryptocurrency.

In an announcement via social media platform X, Coinbase said customers would have to initiate the merger themselves.

“Ocean (OCEAN) and Fetch.ai (FET) announced a merger to form the Artificial Superintelligence Alliance (ASI). Coinbase does not perform any migration of these assets on your behalf.”

In March, Fetch.ai (FET), Singularitynet (AGIX), and Ocean Protocol (OCEAN) announced plans to merge to create the largest independent artificial intelligence (AI) research and development company, which they plan to call the Artificial Superintelligence Alliance (ASI).

According to a recent project update, the merger is being carried out in stages starting July 1.

“Starting July 1, the token merger will temporarily consolidate SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens into Fetch.ai’s FET, which will later convert to the ASI ticker symbol. “This update efficiently executes the token merger and outlines the timeline and critical steps for token holders to ensure a smooth and transparent process.”

Coinbase said users can execute mergers directly using their wallets.

“Once the migration begins, users will be able to migrate their OCEAN and FET to ASI using their own custodial wallet, such as Coinbase Wallet. The ASI token merge is compatible with all major software wallets.”

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