Sui Foundation Denies Supply Manipulation Claim, Saying It Never Liquidated Any $SUI Tokens

Sui Foundation Denies Supply Manipulation Claim, Saying It Never Liquidated Any $SUI Tokens

Recently, the director of the South Korean Financial Supervisory Service said he would check if the Sui team was manipulating the supply of $SUI tokens, and if the circulation was manipulated through staking or improper disclosure, it must be corrected. The Sui Foundation released a statement in response to the claim, saying it was "unfounded and materially false".

According to the statement, "Sui Foundation has been and remains committed to cooperating with DAXA and its member exchanges in the spirit of full compliance and transparency. There has never been any sale of $SUI tokens by the Foundation after the initial Community Access Program (CAP) distributions. Period. The circulating supply schedule displayed on the Sui Foundation public website and available through the public API endpoints is accurate."

It means that "Sui Foundation has never liquidated any $SUI tokens, including staking rewards, other than as mentioned above. Every transfer of $SUI tokens by the Sui Foundation is publicly visible and verifiable on the blockchain. Sui Foundation has been consistent and transparent, publicly communicating the schedule for the $SUI token circulating supply."

In June this year, the crypto community accused the Sui team of intentionally misrepresenting the emission schedule and dumping $SUI staking rewards on Binance. The Sui Foundation denied the accusations and published a $SUI token release schedule.

Related: DeFi Analyst Accuse Sui Publish False Emission Chart and Team Dumping Staking Rewards

Sui Foundation Denies Selling Staking Rewards from Locked $SUI on Binance

Sui Releases $SUI Token Release Schedule

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