{"id":176552,"date":"2023-10-18T17:27:37","date_gmt":"2023-10-18T11:57:37","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176552"},"modified":"2023-10-18T17:27:37","modified_gmt":"2023-10-18T11:57:37","slug":"sui-foundations-denies-supply-manipulation-allegations-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sui-foundations-denies-supply-manipulation-allegations-crypto-news\/","title":{"rendered":"SUI Foundations denies supply manipulation allegations &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Sui Foundation, the organization behind the development of the Sui blockchain, said that the allegation made by a South Korean lawmaker regarding the manipulation of its cryptocurrency supply is \u201cunfounded and materially false.\u201d<\/p>\n<p><strong><em>See related article: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/us-legislator-discuss-cbdc-prevention-bill\/\">US legislators to discuss CBDC prevention bill on Sept. 20<\/a><\/p>\n<h3 class=\"wp-block-heading\">Fast Facts<\/h3>\n<ul>\n<li>On Tuesday, during South Korea\u2019s annual parliamentary audit, lawmaker Min Byeong-deok criticized the Digital Asset Exchange Joint Consultative Body (DAXA) for its inaction regarding the alleged deceit related to the circulation of SUI. DAXA is a crypto market monitoring organization established by five of the largest exchanges in the country.<\/li>\n<li>Min stated that the coin\u2019s value had declined by more than 67% in the five months since it was listed on local exchanges. According to the lawmaker, the Sui Foundation influenced the price drop by staking and locking tokens to serve their own interests, and then selling them, which increased the circulating supply.<\/li>\n<li>\u201cThere has never been any sale of SUI tokens by the Foundation after the initial Community Access Program (CAP) distributions. Period,\u201d the Sui Foundation <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SuiFoundation\/status\/1714349720187859021\">responded<\/a> Tuesday on X (formerly Twitter).\u00a0<\/li>\n<\/ul>\n<ul>\n<li>The foundation added that it never liquidated any SUI tokens or staking rewards and that every SUI transfer, along with the circulating supply, is publicly verifiable on the blockchain ledger and the foundation\u2019s website.<\/li>\n<\/ul>\n<ul>\n<li>SUI fell to a new all-time low of US$0.3671 Wednesday at 10:20 a.m. in Hong Kong. The token fell over 6.35% in the 24 hours leading up to 4:20 p.m. in Hong Kong, to trade at US$0.3733, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/\">CoinMarketCap<\/a>.<\/li>\n<\/ul>\n<p><strong><em>See related article: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/nepal-central-bank-plans-cbdc-crypto-stablecoin-still-excluded-says-spokesperson\/\">Nepal central bank plans CBDC within two years, crypto and stablecoin still excluded, says spokesperson<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Sui Foundation, the organization behind the development of the Sui blockchain, said that the allegation made by a South Korean lawmaker regarding the manipulation of its cryptocurrency supply is \u201cunfounded and materially false.\u201d See related article: US legislators to discuss CBDC prevention bill on Sept. 20 Fast Facts On Tuesday, during South Korea\u2019s annual [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":176553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-176552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176552"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176552\/revisions"}],"predecessor-version":[{"id":176555,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176552\/revisions\/176555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176553"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}