{"id":412740,"date":"2023-06-28T11:55:49","date_gmt":"2023-06-28T11:55:49","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=412740"},"modified":"2023-06-28T11:55:49","modified_gmt":"2023-06-28T11:55:49","slug":"sui-foundation-denies-selling-locked-staking-rewards-on-binance","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sui-foundation-denies-selling-locked-staking-rewards-on-binance","title":{"rendered":"Sui Foundation Denies Selling Locked Staking Rewards on Binance"},"content":{"rendered":"

The Sui Foundation has denied allegations that it unlocked SUI staking rewards and dumped them on cryptocurrency exchange Binance. <\/span><\/p>\n

In a five-part <\/span>Twitter thread<\/span><\/a> on June 27, the team behind the Sui network and its native SUI token renounced the claim, stating that they did not sell any of the locked or non-circulating tokens, including SUI staking rewards.<\/span><\/p>\n

“The Sui Foundation has not engaged in the sale of staking rewards or any other tokens from locked and non-circulating staked SUI, whether on Binance or any other platform.”<\/span><\/i><\/p><\/blockquote>\n

The foundation further emphasized that all insider token allocations are still bound by their lock-up periods and other transfer restrictions, ensuring compliance.<\/span><\/p>\n

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The purpose of this communication is to share information regarding the tokenomics of the Sui Network including the SUI token supply and certain distributions of SUI tokens. Here’s what you need to know:🧵<\/p>\n

— Sui Foundation (@SuiFoundation) June 27, 2023<\/a><\/p><\/blockquote>\n