Coinbase, a major cryptocurrency exchange, announced it will not participate in the upcoming token merger between Ocean Protocol (OCEAN) and Fetch.ai (FET) to form the Artificial Superintelligence Alliance (ASI).
This decision, revealed on June 26th, 2024, stands in contrast to the planned merger process. While Coinbase will delist neither OCEAN nor FET, they won't handle the token swap for users. Instead, users will have the option to trade both tokens on Coinbase "until further notice" and migrate their holdings to ASI through self-custody wallets like Coinbase Wallet.
The ASI token is reportedly compatible with most software wallets as well. Coinbase's reasoning for opting out of the merger remains undisclosed. However, this move creates an additional step for users who prefer the convenience of exchange-handled token swaps. They'll now need to manage the migration themselves.
June 2024, Cryptoniteuae