logo

Fetch.ai Sues Ocean Protocol: Accuses It of Improperly Selling 263 Million FET Tokens

By: theblockbeats.news|2025/11/08 09:45:54
0
Share
copy

BlockBeats News, November 8th, according to Cryptoslate, Fetch.ai has filed a class-action lawsuit against Ocean Protocol in the Southern District of New York Federal Court, accusing it of misleading the community in the AI Alliance ASI and mishandling tokens. The lawsuit alleges that Ocean transferred around 700 million OCEAN tokens, originally earmarked for community rewards, to a Cayman Islands entity, which were then converted to around 286 million FET and sold about 263 million on the market, causing a drop in FET price. Fetch.ai's lawyers stated that Ocean misled the token community and merger partners, profiting millions of dollars from it. Ocean Protocol denies the allegations, stating that the lawsuit is merely social media hype. ASI Alliance co-founder Goertzel expressed disappointment in Ocean's actions, but the alliance will continue to push forward with decentralized AI development.

In previous news, Fetch.ai requested the Ocean Protocol Foundation to return 120 million USD worth of FET tokens to avoid legal disputes.

-- Price

--

You may also like

Electric Capital: Tracking 501 types of yield-generating RWA assets, we discovered these patterns

From private credit to GPU leasing, from catastrophe bonds to music royalties, the range of tokenizable assets is much richer than the market perceives. However, the biggest challenge is not technology, but distribution—existing RWAs heavily rely on a few large deployers, and the concentration of ri...

Those who are cut off by AI will not disappear; they will become the creators of the next round of the economy

AI is not eliminating people, but rather the superstition of "stable careers": those who break the shackles of organizations and understand how to rewrite themselves are ushering in the ultimate revenge.

Stablecoins reshaping cross-border payments in Asia? Strategic panorama and investment opportunity analysis

With the popularity of local payment channels, the costs of traditional transfers have been significantly reduced, and the fees are now mainly concentrated in the domestic settlement phase, which is precisely what stablecoins cannot bypass.

Zuckerberg is building an AI agent to help him as CEO

Zuckerberg is reported to be personally developing a "CEO proxy" to accelerate information acquisition and reduce management layers.

Bloomberg: Swiss Private Bank Old Guard Rifts, Is Bitcoin the Spark?

For Marc Syz, this is both a bet on the digital asset track and a complete break from Switzerland's long-established private banking dynasty.

Zuckerberg is building an AI assistant to help him be CEO

Mark Zuckerberg has been reportedly personally developing a "CEO Proxy" to speed up information flow and reduce management layers.

Popular coins

Latest Crypto News

07:42

The probability of the Federal Reserve keeping interest rates unchanged in April is 92.8%

According to Jinshi reports, CME's "Fed Watch" shows that the probability of the Federal Reserve raising interest rates by 25 basis points in April is 7.2%, while the probability of keeping rates unchanged is 92.8%. In addition, the probability of the Federal Reserve cumulatively raising rates by 25...
07:42

Aave DAO advances V4 upgrade, entering community discussion phase

Aave DAO has officially initiated the community discussion process for the deployment of Aave V4 through the Aave Request for Comment (ARFC) proposal vote. This proposal received 100% support on the governance platform, marking a key step for the protocol towards a new round of significant upgrades....
07:42

Circle urges the EU to accelerate DLT reforms and relax stablecoin settlement rules

Stablecoin issuer Circle calls on the EU to accelerate the reform of the digital asset regulatory framework, believing that the current pace may slow down institutional adoption of the tokenized market.In feedback regarding the EU's "Market Integration Proposal," Circle stated that the proposal is a...
07:42

Data: 464.13 BTC was transferred from an anonymous address and then sent to another anonymous address after a relay

According to Arkham data, at 07:03, 464.13 BTC (worth approximately 32.81 million USD) was transferred from one anonymous address (starting with bc1qrz9j...) to another anonymous address (starting with bc1qd0yf...).
07:42

Data: 12.99 million IMX transferred from an anonymous address, valued at approximately 20.76 million USD

According to Arkham data, at 07:17, 12.99 million IMX (worth approximately 20.76 million USD) were transferred from an anonymous address (starting with 0xD55C...) to Ethena.
Read more
Community
iconiconiconiconiconiconicon

Customer Support Bot：@WEEX_support_smart_Bot

VIP Services：support@weex.com