Foundation

Giant

In a recent development, Cyber Capital founder Justin Bons expressed his concerns about the token offering of the cryptocurrency project Sui.
Bons criticized that more than 8 billion SUIs have been staked and more than 84% of the staked supply is controlled by the founding team. He also pointed out that the founders control most of the supply without any lock-in period and legal guarantees.
In response to these doubts expressed by the community, Sui clarified in his official response that the founders of MystenLabs do not control the Sui Foundation treasury, community reserve, staking allowances, or tokens allocated to investors. According to the statement, Sui Foundation is the largest owner of locked tokens.
Related News: <a href="https://en.bitcoinsistemi.com/3-giant-altcoin-whales-awake-they-bought-5-altcoins-including-a-massive-pepe-purchase/" target="_blank" rel="noopener noreferrer nofollow">3 Giant Altcoin Whales Awake: They Bought 5 Altcoins, Including a Massive PEPE Purchase</a>
In the official statement made by Sui, the following was emphasized:
<blockquote>
 “Recently, there have been some misleading posts about Sui's token offering. Let's clarify the situation, starting with the basics: locked tokens are locked by third-party custodians. They cannot be moved and are securely stored until unlocked according to Sui's token emission program. Additionally, 100% of the staking rewards earned by the Sui Foundation are returned to the community and included in the public emissions program.”
</blockquote>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/binance-listed-project-makes-official-statement-on-its-altcoin-after-heavy-criticism/" rel="noopener noreferrer nofollow">Binance-Listed Project Makes Official Statement on its Altcoin After Heavy Criticism</a>

Binance-Listed Project Makes Official Statement on its Altcoin After Heavy Criticism

Bitcoin Sistemi EN

Other articles published on May 5, 2024

UNI Token Value Skyrockets as Crypto Whale Investor Makes Major Move: An In-Depth Look at Uniswap...

Bitcoin reaches one billion transactions

3 Best Crypto Marketplace Tokens: Binance Coin (BNB), ETFSwap (ETFS), And Hedera (HBAR)

Top Economist Alex Krüger’s ‘Max Long’ Crypto Strategy: Revealing His Preferred Altcoins

Unprecedented Low Crypto Losses in April: Spotlight on CertiK (CTK) Performance

Altcoin Markets Hit Bottom, Crypto Rally Anticipated Amid Economic Downturn: Expert Analysis on C...

Join our free newsletter for daily crypto updates!