The feud between Fetch.ai CEO Humayun Sheikh and Ocean Protocol Foundation escalates as Sheikh offers $250,000 bounty for info on alleged misappropriation of tokens. The CEO claimed Ocean Protocol transferred $80 million worth of FET tokens before a merger, affecting FET’s price, which fell 9% in 24 hours.

Ocean Protocol denies allegations of misappropriation, but onchain data suggests the conversion of 661 million Ocean tokens to 286 million FET coins. Bubblemaps data reveals $120M in FET tokens transferred to Binance and OTC providers post-merger, despite Ocean Protocol’s withdrawal from the ASI Alliance.

The dispute led Binance to cease support for OCEAN token deposits. Sheikh threatened legal action and called for investigations into the matter. Ocean Protocol insists it will respond to the “unfounded claims.” The ongoing issue remains a point of contention between the parties involved.

Read more at Cointelegraph.com

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