Ocean Protocol Exits ASI Alliance Over Alleged Misconduct by SingularityNET and Fetch

Citing HashNews, Ocean Protocol has explained its decision to exit the ASI Alliance, accusing partners SingularityNET and Fetch of breaching core commitments regarding asset control. Ocean claims that SingularityNET, after a merger, aggressively drained market liquidity by minting $100 million in tokens and maintaining a monthly burn of $6 million. Fetch, meanwhile, is accused of ignoring decentralization principles, selling large amounts of tokens, and attempting to force Ocean to convert community funds in oceanDAO to FET. Ocean sought to exit the alliance in April 2024 due to the loss of foundational cooperation but faced legal threats. In August 2025, Fetch and SingularityNET unilaterally shut down the token bridge, leading to Ocean filing a lawsuit and ending the alliance. Ocean stated that the 93% drop in FET’s value was due to the partners’ token dumping and the failure of Fetch’s high-risk TRNR trading, not Ocean’s exit. Ocean emphasized its commitment to decentralization and aims to prevent further harm to the community, planning to focus on independent technical and product development. Previously, Bubblemaps reported that Ocean Protocol appeared to sell over $100 million in community tokens, a move that Fetch AI publicly criticized.