Fetch.ai offers to drop legal claims if Ocean Protocol returns 286 million FET tokens — a settlement that could avert a protracted courtroom fight and calm markets.
Fetch.ai and the Ocean Protocol Foundation appear to be negotiating a ceasefire after a bitter dispute over 286 million FET tokens that allegedly moved during their merger. Fetch.ai’s CEO Humayun Sheikh said a written offer will be sent to recover the tokens in exchange for Fetch.ai dropping all legal claims — a move intended to resolve the dispute quickly and limit reputational damage.
Terms on the Table and a Fast Resolution
Sheikh told an online audience that Fetch.ai will cancel pending lawsuits if Ocean Protocol returns the tokens, adding:
“You can have my letter tomorrow. The offer is simple: give my community back the tokens. I will drop every legal claim.”
According to on-chain investigations cited by third-party analytics, the contested transfers converted roughly 661 million Ocean tokens into 286 million FET, worth about $120 million at the time, with large tranches routed to exchanges and market makers. GeoStaking, a validator that helped mediate talks, confirmed Ocean Protocol would agree to return the tokens if Fetch.ai’s offer is formalized.
The proposed settlement is positioned as a pragmatic alternative to lengthy litigation that could further erode community trust and the projects’ finances.
The FET token has plunged more than 93% since a related alliance announcement, though Ocean Protocol’s founder, Bruce Pon, disputed claims the alliance exit alone caused the crash. Pon argued the decline reflected broader market volatility and token liquidity events by other parties, and promised a point-by-point rebuttal to recent allegations.
Resolving the dispute could halt near-term selling pressure and support token recovery efforts.
A negotiated token return would spare both projects costly legal bills and negative headlines, while restoring some assets to Fetch.ai’s community. For token holders and market watchers, the outcome will be a test of whether blockchain governance and off-chain negotiations can resolve high-value disputes without resorting to courts.
If the written proposal is filed as suggested, a settlement could be reached within days — a swift end to a conflict that has loomed over both ecosystems.
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