Coinbase stated on June 26 that it will not support the migration of Ocean Protocol (OCEAN) and Fetch.ai (FET) in relation to the Artificial Superintelligence Alliance (ASI) token merger. Instead, users can continue trading these assets on the platform until further notice.
Coinbase will enable users to manage their own migrations through self-custodial wallets like Coinbase Wallet and other major software wallets.
It’s important to note that Coinbase does not currently support trading of SingularityNET (AGIX), the third token involved in the merger alongside OCEAN and FET.
Other exchanges show support
Fetch.ai outlined a plan for other exchanges to assist with the merger. Starting July 1, cooperating exchanges will cease deposits and withdrawals for AGIX and OCEAN, while still permitting FET trading. AGIX and OCEAN will eventually be delisted.
The ASI token is set to launch in mid-July, allowing users to convert their tokens. Exchanges will transition spot markets from FET to ASI.
Several exchanges have announced similar plans. Bitfinex will stop supporting affected tokens on July 2, while HTX, Bitget, Binance, and KuCoin plan to make changes starting July 1. Crypto.com’s adjustments will take place on June 28.
Most of these exchanges have automated the merging process for users without specifying a date.
Merger for Competition Against Big Tech
The ASI token merger signifies collaboration among three major AI-focused crypto projects to challenge Big Tech’s dominance in the sector. This strategic move aims to establish the ASI token as the leading decentralized AI token by market capitalization.
The combined market cap of the three tokens currently stands at $5.8 billion.
