The CEO of Fetch AI, Humayun Sheikh, has announced that the planned token merger between Fetch AI (FET), Ocean Protocol (OCEAN), and SingularityNet (AGIX) will proceed as scheduled, despite Coinbase's decision not to support the merger. Sheikh took to the social media platform X to reassure FET holders that the merger is still on track and that they do not need to take any action.

The merger, which was first announced in March, aims to form the Artificial Superintelligence Alliance (ASI), a revolutionary initiative that will change how AI is created, shared, and used. Phase I of the merger is set to take place on July 1st, and Sheikh confirmed that the timeline remains unchanged. He also acknowledged that centralized exchanges (CEXs) do not need to delist or relist FET, as it is already listed.

Coinbase, a leading US-based crypto exchange, announced earlier this week that it would not be supporting the token merger, citing that customers would need to initiate the merger on their own using a self-custodial wallet, such as Coinbase Wallet. However, Sheikh emphasized that the merger will still proceed, and that all major software wallets will be compatible with the ASI token merger.

Sheikh expressed his appreciation for the support from all parties involved and assured FET holders that the team is working hard to resolve any issues that may arise. He also encouraged holders to remain calm and patient, as the merger is expected to bring significant benefits to the AI ecosystem.

In conclusion, the Fetch AI CEO's announcement has alleviated concerns among FET holders, and the merger is expected to proceed as planned. The formation of the Artificial Superintelligence Alliance is a significant development in the AI space, and it will be interesting to see how this merger shapes the future of AI creation, sharing, and usage.