The Fetch.ai crypto CEO just announced a new move to boost FET’s value. For every Fetch wallet that signs up on asi1.ai, the Fetch Foundation will burn 50 FET. The burns and reconciliations will happen weekly.
According to the team, it’s all about “pushing utility and creating value.” This comes right after Ocean Protocol abruptly pulled out of the Artificial Superintelligence Alliance on October 9, 2025, following reports that they sold around 500 million FET tokens to fund liquidity for their own project, a sale that came to light during an ASI investigation.
Ocean Protocol Finally Responds To The Situation
We summarized the "Ocean Dossier" by @BrucePon on the current situation around the ASI Alliance and $FET with what we found stood out the most.
We encourage you to read it to have the full context and make your own opinion.
Here's the background of why Ocean Protocol left.
— The Ocean Navy (@op_navy) October 23, 2025
After all the drama around the ASI Alliance, Ocean Protocol finally broke its silence. The team responded to what they called a flood of “false claims and baseless accusations” aimed at the project.
They said they’d stayed quiet out of respect for ongoing legal matters but felt they had to speak up after seeing too many rumors and personal attacks hurting both the Ocean and ASI communities.
In their statement, Ocean made it clear they don’t want to get into public fights or trade accusations. Instead, they plan to share full context and proof to clear things up.
Ocean’s internal report laid out several key points about what went wrong inside the ASI Alliance. The group was formed in a rushed five-day deal back in March 2024, with each party keeping full control of its own wallets and treasuries.
OceanDAO Is a Sperate Entity From the Ocean Protocol
I am usually quiet about what happened at Ocean Protocol back in 2017-18, at the beginning of the project, when I was part of the founding team. Kept my head down, kept building. Let me just say that reading what's going on with ASI and https://t.co/ySxnKOxZB7 does not surprise…
— Alex (@alex_incrypto) October 23, 2025
They highlighted that OceanDAO was always a separate entity from the Ocean Protocol Foundation and that governance inside the alliance quickly became centralized under Fetch.ai’s founder, Humayun Sheikh, who controlled over 1.2 billion FET and resisted decentralization or fair voting.
Ben Goertzel reportedly revealed Sheikh’s early intent to “pump the price” and “dump a lot of tokens.” Around the same time, SingularityNET minted 100 million FET to sell into new liquidity pools for its own funding.
Ocean said these red flags, from token control to broken promises about integrations, led them to ask out of the alliance within months. Their exit request was met with threats of legal action and “significant damages,” prompting Ocean to go public with their side of the story.
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Fetch (Fet) Crypto Price Prediction: Is It Going To Pump Now?
This FET chart looks like a long-term Elliott Wave count unfolding on the quarterly timeframe. The chart marks wave 4 seemingly completed near the 0.07–0.15 range, which has been a historical accumulation area.
That setup hints at the possible start of a larger wave 5 impulse if price continues holding above that 0.15 level. The resistance at 0.72 is a key midpoint gate; flipping that would confirm wave 5’s strength and open the path toward the high target zone around 8–12 USD shown in green.
The overall structure shows a clean macro higher-low formation, but momentum still looks soft after a heavy retracement candle. If FET maintains support around 0.15 and builds volume, the next multi-quarter expansion could aim for that wave 5 target zone.
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Key Takeaways
- Fetch.ai kicks off a new burn campaign, destroying 50 FET for every wallet registered on ASI1.ai to boost token utility.
- Ocean Protocol breaks silence after ASI fallout. Promising a full claim-by-claim rebuttal as FET eyes a possible wave 5 rally.
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