The $120 Million Token Dumping Controversy: Fetch.AI vs Ocean Protocol!

Jakarta, Pintu News – The cryptocurrency world is abuzz again with a feud between Fetch.AI (FET) and Ocean Protocol. Fetch.AI’s CEO, Humayun Sheikh, accused Ocean Protocol of dumping $120 million worth of tokens which resulted in a drop in FET’s price. Sheikh even offered a huge reward for uncovering the truth behind the act. This feud has not only affected the token price, but also investor confidence in both projects.

Fetch.AI and Ocean Protocol Conflict

Humayun Sheikh, CEO of Fetch.AI, has announced a $250,000 reward offer for anyone who can uncover the identity of the OceanDAO signatories and their relationship with the Ocean Foundation. The offer comes after Fetch.AI alleged that Ocean Protocol had sold 661.2 million Ocean tokens (OCEAN) for 286.4 million Fetch.AI tokens (FET), which were allegedly then liquidated.

The Ocean Protocol Foundation has announced their withdrawal from the ASI Alliance, marking an escalation of the conflict between the two entities. Sheikh argued that Ocean Protocol’s actions have harmed Fetch.AI (FET) token holders and affected market stability.

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Ocean Protocol Dumping Action Details

According to data shared by Bubblemaps, Ocean Protocol has allegedly exchanged their Ocean (OCEAN) tokens for Fetch.AI (FET) and sent them to Binance and OTC providers. It is estimated that around 270 million tokens, with a value of around $120 million, have been transferred and most likely liquidated.

This information adds to the evidence supporting Sheikh’s claims of mass dumping by Ocean Protocol. This analysis shows the significant impact the transaction had on the price of Fetch.AI (FET), as seen by the drop in the value of the token in the market. This incident raised concerns among investors and sparked further speculation regarding the long-term stability of both projects.

Impact on Fetch.AI Price

Since news of this feud broke out, the price of Fetch.AI (FET) has experienced a sharp decline. Crypto analyst Cryptor highlighted the uncertainty triggered by this conflict, noting an 8.3% drop in the price of Fetch.AI (FET) in the daily time frame. Currently, Fetch.AI (FET) is trading at $0.25 per token.

This decline not only reflects the market’s reaction to the internal conflict, but also demonstrates the market’s sensitivity to issues relating to the integrity and transparency of blockchain projects. Investors and analysts continue to monitor this situation to see what long-term impact it will have on both projects and the market as a whole.

Conclusion

The feud between Fetch.AI and Ocean Protocol highlights the challenges and risks in the cryptocurrency ecosystem. While much remains to be revealed, the crypto community remains wary of potential market manipulation and its impact on investors. Going forward, transparency and adherence to market ethics will become more important to build trust and stability in the industry.

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Reference

• NewsBTC. Fetch.ai CEO Offers Reward to Uncover Ocean Protocol’s Alleged $120M FET Dump. Accessed on October 23, 2025