The Sui Foundation has been accused of dumping locked and non-circulating SUI tokens on Binance, a popular crypto exchange. However, the foundation denies these allegations and states that no such actions were taken. They assure the crypto community that no locked tokens were sold on Binance or any other platform. Pseudonymous cryptocurrency commentator DeFiSquared claimed that the Sui Foundation transferred locked and uncirculated SUI tokens to Binance. The foundation clarified that the specific transactions in question were subject to a contractual lock, but DeFiSquared insisted that the tokens could be unlocked without restriction. The allegations raise concerns about the pressure to sell SUI tokens and the legitimacy of Binance’s launchpad. The Sui Foundation emphasizes its commitment to transparency and plans to publish a detailed projection of the token release schedule. The impact of these allegations on the reputation and market performance of the SUI token remains to be seen, highlighting the importance of transparent communication and adherence to protocols. If the allegations are found to be true, both the Sui Foundation and Binance could face reputational damage and legal consequences. It is crucial for the Sui Foundation to provide convincing evidence to refute the claims made against it.
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