Statement from the Board of Directors of Superintelligence Alliance LTD.
On 09 October 2025, Ocean Protocol Foundation Ltd (“Ocean”) issued to the Board of Directors of the Company its Notice of Removal of Appointed Member Directors and of Resignation as Member of Superintelligence Alliance Ltd. (“Ocean’s Notice”).
Also on 09 October 2025, Ocean issued certain statements (“Ocean’s Public Statements”) promoting the independent listing of the $OCEAN token on exchanges. These statements including Ocean’s announcement that “[a]ny exchange that has de-listed $OCEAN may assess whether they would like to re-list the $OCEAN token”.
The Board is in the process of seeking legal advice as to the consequences of Ocean’s conduct, and in particular Ocean’s Public Statements and related actions given the Board’s preliminary view that such conduct is in apparent breach of Ocean’s contractual obligations owed to Fetch.AI and SingularityNET as well as to the aims of the Company. In view of that fact that those actions have had a material and significant financial and reputational impact on the ASI Community (among other aspects, there has been a negative impact on token price), it does not appear that Ocean and its Directors have been acting in the best interests of the ASI Community.
The Board intends to seek urgent/immediate clarification/confirmation from Ocean as to its position/intentions before making a final decision as to what should be done. In the interim and as a matter of prudence and risk mitigation, the Board will suspend the operation of the conversion bridge pending confirmation sought from Ocean and a final decision of the Board.
The Board is also taking legal advice with a view to protect and pursue its legal rights including obtaining restitution or compensation for the ASI Community for any wrongful actions. Legal advice is also being sought as to whether the 110 million FET tokens which have yet to be converted to the bridge can be put to the ASI Community to decide what should be done with those tokens including burning them.
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