#SUI🔥 Responded to selling allegations

Sui Foundation responded to insider allegations of selling $400 million in tokens: there has been no preemptive selling or violation of lock up plans

The Sui Foundation, in response to allegations that “Sui insiders sold $400 million worth of tokens during the uptrend,” stated that the Sui Foundation hopes to directly respond to this person:

No insiders, including employees of the foundation or Mysten Labs (including Mysten Labs founder), as well as investors in ML, have sold tokens worth $400 million during the uptrend, either individually or in combination. Insiders did not engage in any preemptive selling or violation of lock up and circulation supply plans.

Although the poster did not provide a wallet address, the Sui Foundation believes that the potential owner of the wallet is an infrastructure partner who owns tokens and follows a lock up plan. All token lock ups are carried out by qualified custodians and continuously monitored by the Sui Foundation, and the operations of this partner are compliant.

Follow for more updates.

#SUI🔥 #CryptoNewss

Traditional Hedge Funds Are Dabbling into Crypto

Nearly half of hedge funds focused on traditional asset classes now have exposure to cryptocurrencies as increased clarity around regulations and the launch of exchange-traded funds in the U.S. and Asia draw more investors into the asset class, according to a new survey.

Among hedge funds trading in traditional markets, 47% had exposure to digital assets, up from 29% in 2023 and 37% in 2022, according to the Global Crypto Hedge Fund Report published Thursday by the Alternative Investment Management Association and PwC. Among those funds that are already invested, 67% plan to maintain the same level of capital in crypto while the rest plan to invest more by the end of 2024, the survey found.

While many hedge funds first waded into crypto by trading tokens in the spot market, they are now increasingly deploying more sophisticated strategies. Among funds involved in crypto, 58% traded derivatives in 2024, up from 38% in 2023, while those trading in spot markets dropped to 25% this year after peaking at 69% last year, according to the report.
#CryptoNewss #BULLISHEDGE #BTC☀

As of October 2024, the cryptocurrency market is showing strong growth and resilience. The total market capitalization has risen by about 8%, driven by favorable economic conditions, including rate cuts by the Federal Reserve and the People’s Bank of China. This has renewed investor optimism, particularly in Bitcoin, which is leading the market with strong performance ahead of its upcoming 2025 halving event. This halving is expected to trigger further price increases, historically marking the beginning of new bull cycles.

Investors are advised to stay informed and diversify their portfolios to capitalize on both established cryptocurrencies and emerging tokens.
#CryptoNewss #BULLishWithBULL #market #cryptocurrency #BullRunAhead

🚂 The Bitcoin train makes key stops along the way:

• FUD: Don’t get off here! Fear and doubt are just distractions.
• DYOR: Do Your Own Research—knowledge is power.
• HODL: Hold tight, long-term vision leads to freedom.
Final destination? Freedom! 💸 #Bitcoin❗ #CryptoNewsCommunity #HODL #DYOR* #BTC☀ #FinancialFreedomJourney