PANews reported on October 23rd that Ocean Protocol issued a statement explaining its withdrawal from the ASI Alliance , refuting "false accusations" and accusing its partners, SingularityNET and Fetch, of violating the alliance's core commitment to retaining control of their assets. Ocean pointed out that after the merger, SingularityNET engaged in reckless financial maneuvers and massively drained market liquidity, including issuing an additional $100 million in tokens and maintaining a massive monthly burn of $6 million. Fetch founder Sheikh was accused of disregarding the principles of decentralization, not only by selling a large number of tokens but also by attempting to force Ocean to convert all assets in its independently operated community treasury, OceanDAO, into FET tokens. Ocean requested withdrawal as early as April 2024 due to a loss of cooperative foundation, but was met with legal threats. Ultimately, Fetch and SingularityNET attempted to unilaterally shut down the token bridge in August 2025, violating the charter and forcing Ocean to file legal action and withdraw from the alliance.

Ocean noted that the 93% drop in FET token prices from its peak was primarily due to the massive sell-offs by SingularityNET and Fetch, as well as the failure of Fetch's own high-risk "TRNR" transaction, rather than its own withdrawal. Throughout this process, Ocean has remained committed to the principle of decentralization, which states that individuals have undisputed sovereignty over their assets. This withdrawal is intended to prevent further harm to the interests of the Ocean community, and Ocean will continue to focus on the independent development of its technology and products.

According to previous news, Bubblemaps stated that Ocean Protocol is suspected of selling more than $100 million in community tokens, and Fetch AI has publicly accused it of misconduct .