Coinfeeds Daily → Coinbase Won't Support Fetch.AI-Ocean Token Migration Amid $7.5B Merger

Coinbase Won't Support Fetch.AI-Ocean Token Migration Amid $7.5B Merger

Published: Jun 27, 2024 | Last Updated: Jun 27, 2024
Howard Kane

Unlike Binance and KuCoin, Coinbase users must self-manage ASI token migrations.

Coinbase has made a significant decision regarding the upcoming ASI token merger migration. Unlike other major exchanges, Coinbase will not facilitate this migration for its users. This decision sets Coinbase apart from platforms like Bitfinex, Binance, and KuCoin, which have chosen to support the merger by halting the availability of affected tokens and facilitating conversions.

What is the ASI Token Merger?

The ASI token merger is a significant event in the cryptocurrency world, set to launch in mid-July. The merger aims to combine three tokens: Ocean Protocol (OCEAN), (FET), and SingularityNET (AGIX) into a single token. The primary goal of this merger is to promote decentralized AI infrastructure, which could potentially challenge the dominance of Big Tech companies in the AI space.

Coinbase's Approach

While Coinbase will continue to support trading for OCEAN and FET tokens, it will not facilitate the migration process for its users. Instead, users will need to perform migrations through self-custodial wallets, including Coinbase Wallet. This means that Coinbase users who wish to participate in the ASI token merger will need to take additional steps to manage their tokens independently.

Other Exchanges' Support

In contrast, other major exchanges like Bitfinex, Binance, and KuCoin have decided to support the ASI token merger. These exchanges will halt the availability of the affected tokens and facilitate the conversion process for their users. This approach aims to make the transition smoother for users who hold OCEAN, FET, and AGIX tokens on these platforms.


For Coinbase users, it's important to be aware of the additional steps required to participate in the ASI token merger. Users will need to utilize self-custodial wallets to manage their token migrations. On the other hand, users of Bitfinex, Binance, and KuCoin can expect a more streamlined process, as these exchanges will handle the conversions on their behalf.

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