Overview
- On-chain analytics from Bubblemaps show an Ocean multisig converted 661 million OCEAN into 286 million FET on July 1, worth about $191 million at the time.
- Roughly 270 million FET later moved to centralized venues, with around 160 million sent to Binance and 109 million to GSR Markets, though Bubblemaps did not confirm any sales.
- Ocean Protocol rejected the accusations as unfounded and said a formal response is in preparation alongside legal proceedings.
- Binance ended deposit support for OCEAN tokens without citing the dispute, as Fetch.ai’s CEO also called for investigations and pledged to fund class-action lawsuits.
- FET fell more than 52% between October 9 and 21 while OCEAN rebounded, following Ocean’s October 9 decision to exit the ASI alliance and seek relisting of OCEAN.