SUI Takes a Hit due to FUD
The director of the Korean Financial Supervisory Service stated that they would be scrutinizing the Sui project for possible manipulations of its native token offering.
This regulatory announcement stems from rumors circulating since June, which suggested an early release and subsequent sale of SUI staking rewards on the Binance platform.
In response to these developments, SUI plummeted by over 7%.
However, the project's team vehemently denies these allegations and stresses their commitment to working closely with regulatory authorities to ensure complete transparency.
Considering the token's current market performance, such claims are met with skepticism.
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