Fetch.ai Ocean Protocol near agreement to return $120M in FET tokens, ending ASI dispute without legal action after weeks of conflict.
Author: Akshat Thakur
October 24, 2025 – The ongoing feud between Fetch.ai and Ocean Protocol may soon reach resolution as both sides edge toward a deal to return $120 million in FET tokens, potentially avoiding a lengthy and costly legal battle. Fetch.ai CEO Humayun Sheikh announced that legal claims would be dropped if the disputed tokens were returned, while Ocean Protocol signaled readiness to comply once the proposal is formally delivered.
During a Thursday X Spaces discussion, Sheikh confirmed that Fetch.ai will send a written proposal for the return of 286 million FET tokens, allegedly transferred by Ocean Protocol during the Artificial Superintelligence Alliance (ASI) merger. He offered to cover legal costs if Ocean agreed to the recovery plan, stating:
“The offer is simple: give my community back the tokens, and I’ll drop every legal claim.”
Validator node GeoStaking, which helped mediate talks, said Ocean Protocol would accept the arrangement once the legal documentation arrives expected as soon as Friday.
The dispute originated from the 2024 ASI Alliance merger, which unified Fetch.ai, Ocean Protocol, and SingularityNET under a shared FET token framework. Fetch.ai alleges that an Ocean-linked multisignature wallet minted 719 million OCEAN in 2023, converting 661 million OCEAN into 286 million FET in July 2025, with portions sent to and GSR Markets.
Ocean denies any wrongdoing, maintaining that the token movements were transparent and aligned with merger terms.
The FET token has fallen over 93% since the ASI merger’s peak in March 2024, now trading near $0.26. Ocean Protocol founder Bruce Pon disputed claims that Ocean’s actions caused the drop, citing broader market volatility and liquidity issues following large token sales by other alliance members. He added:
“The 93% drop was driven by market conditions and excessive FET sales across the alliance not by Ocean’s exit.”
Despite tensions, both projects are signaling reconciliation to avoid further market uncertainty.
Crypto community responses on X were cautiously optimistic, with users calling the move a “win for decentralized accountability.” Observers noted that an amicable resolution would preserve both projects’ credibility in the AI blockchain space, where reputation plays a key role in enterprise adoption.
If finalized, the deal could restore investor confidence and stabilize FET’s ecosystem after months of internal conflict and volatility. Both teams have committed to transparency and formal communication in upcoming public statements.
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