The team behind the Sui network and its native SUI token has taken to Twitter to deny allegations of selling locked staking rewards on Binance. Word on the street is that the team moved a huge amount of locked staking rewards and dumped them on Binance to cash in. Sui Foundation Denies Selling Locked Staking Rewards Pump and dump schemes have become very common in the crypto world. According to a report by Chainalysis, 24% of tokens launched in 2022 that were analyzed saw a price decline in the first week indicative of possible pump-and-dump activity. Related Reading: FTX Puts Sale Of $500 Million Stake In AI Firm Anthropic On Hold According to the foundation, the Sui Foundation has not sold staking rewards or any other tokens from locked and non-circulating staked SUI on Binance or any other exchange. “All insider token allocations remain subject to and compliant with their lock-ups and other restrictions on transfer,” said the statement. The Origin Of The Claims A rumor started circulating on Twitter on Thursday that the Sui Foundation was unlocking and d ..
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