Sui Foundation denies it sold locked staking rewards on Binance
The Sui Foundation has muted claims that the firm transferred over 3.1 million SUI tokens from “locked” and “non-circulating” staking rewards to Binance. ...
- The Sui Foundation denies allegations of unlocking and selling SUI staking rewards on Binance.
- The Foundation states that all insider token allocations are compliant with lock-ups and transfer restrictions.
- Sui is a decentralized proof-of-stake blockchain where users can stake tokens for more SUI.
- Pseudonymous commentator @DeFiSquared accuses the Foundation of dumping locked and non-circulating staked SUI on Binance.
- DeFi Squared claims that SUI tokens were transferred to Binance multiple times, potentially to obfuscate selling or distribute among team members.
- The SUI token has a market cap of $427.7 million with a circulating supply of about 604 million tokens.
- The Foundation plans to publish a detailed projection of the token release schedule.
The article presents conflicting claims between the Sui Foundation and @DeFiSquared. The Foundation denies the allegations, while DeFi Squared accuses them of dumping tokens on Binance. The sentiment is neutral, as it provides information without taking a clear stance.