As the tech world eagerly anticipates the July 1 launch of the Artificial SuperIntelligence Alliance (ASI) merger involving Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), Humayun Sheikh, Fetch.ai's founder, has stepped forward to clarify recent developments surrounding Coinbase's stance on the merger.

Coinbase, in an unexpected move, publicly declared its decision not to support the upcoming tripartite token merger. In response, Humayun Sheikh reassured the community that this setback would not hinder the process. He emphasized that centralized exchanges (CEXes) like Coinbase are not obligated to list or relist FET because it is already available on these platforms.

According to the merger's framework, SingularityNET (AGIX) and Ocean Protocol (OCEAN) will initially integrate into Fetch.ai (FET) at a predefined ratio previously disclosed. Subsequently, FET will transition into an ASI token. Despite Coinbase's current stance, Humayun Sheikh indicated that dialogue with the exchange is ongoing, expressing optimism for resolution. He highlighted Coinbase's commitment to facilitating token swaps within its custodial wallets, although the main exchange will not list the alliance initially. Each trading platform, he noted, has its procedures for supporting the ASI Alliance.

Humayun Sheikh underscored that numerous exchanges are actively backing the merger process, affirming that plans will proceed as scheduled. However, he acknowledged that the involved tokens are currently experiencing significant selling pressure amid ecosystem uncertainties. As of the latest update, FET has seen a 10.42% decline to $1.45 over 24 hours, while AGIX and OCEAN have dropped by 9.14% and over 9% respectively, with prices at $0.6118 and $0.6092.

In summary, while Coinbase's decision not to support the ASI merger initially poses a challenge, Fetch.ai remains committed to progressing with the alliance as planned. With ongoing discussions and widespread exchange support, the merger aims to reshape the landscape of decentralized technologies, despite current market fluctuations and regulatory uncertainties.