Ocean Protocol explains its reasons for exiting the ASI alliance, accusing two partners and stating that a lawsuit has been filed.

PANews reported on October 23 that Ocean Protocol issued a statement explaining its reasons for exiting the ASI Alliance to refute “false accusations,” alleging that partners SingularityNET and Fetch violated the alliance's core commitment of “retaining asset control by all parties.” Ocean pointed out that after the merger, SingularityNET engaged in reckless financial operations and significantly consumed market liquidity, including issuing an additional $100 million in tokens and maintaining a massive monthly expenditure of $6 million. Fetch founder Sheikh was accused of disregarding decentralization principles, not only selling a large amount of tokens but also attempting to force Ocean to convert all assets of its independently operated community treasury oceanDAO into FET tokens. Ocean requested to exit as early as April 2024 due to the loss of the foundation for cooperation but faced legal threats. Ultimately, Fetch and SingularityNET attempted to unilaterally close the token bridge in August 2025, violating the articles of association, which forced Ocean to file a lawsuit and exit the alliance. Ocean pointed out that the price of FET Token plummeted by 93% from its peak, mainly due to the large sell-off by SingularityNET and Fetch, as well as the failure of Fetch's own high-risk “TRNR” trading, rather than its exit. Throughout the process, Ocean has adhered to the principle of Decentralization, which means individuals have undisputed sovereignty over their assets. This exit is to avoid further harm to the interests of the Ocean community, and in the future, Ocean will continue to focus on the independent development of its technology and products. According to previous reports, Bubblemaps stated that Ocean Protocol allegedly sold more than 100 million dollars worth of community tokens, and Fetch AI has publicly accused it of misconduct.