Latest news with #Sui
Business Insider
a day ago
- Business
- Business Insider
FLock.io Partners with Walrus to Power Decentralized, Privacy-Preserving AI Training
Bringing Walrus's decentralized data layer and SEAL encryption to unlocking secure, community-owned AI development. the first decentralized AI training platform, will build on Walrus as its core data layer to bring secure, privacy-preserving AI model development to the Sui ecosystem. This partnership connects Walrus's robust decentralized infrastructure, including data storage, availability, programmability, and access controls, with innovative approach to AI development. utilizes Federated Learning and blockchain to enable communities to build, train, and own AI models without centralizing sensitive data. Their ecosystem includes AI Arena for competitive model training, FL (Federated Learning) Alliance for privacy-focused collaboration, and Moonbase for decentralized model hosting. Together, these components provide an end-to-end stack for open, community-governed AI development. The initial phase of this integration centers on strengthening FL Alliance with Walrus and SEAL. Walrus provides the decentralized broadcasting and storage layer for model parameters and training outputs across federated learning nodes. SEAL, a decentralized secrets management system, enforces gated access and data confidentiality, ensuring that only verified federation members can access or contribute encrypted gradients and data. 'Previously, our data solutions either lacked decentralization or encryption, creating onboarding hurdles," said Jiahao Sun, Founder & CEO of "Walrus changes that. It gives us a fully decentralized, encrypted storage solution for gradients, which means we can confidently expand our FL Alliance and bring more secure AI training to our users.' Looking ahead, this partnership aims to deliver a true agentic AI experience on Sui through open collaboration and hands-on development. The next phase will involve fine-tuning an open-source foundation model, optimized for agentic interactions within the Sui environment. The teams aim for this to lead to a functional prototype, comparable to a 'Copilot for the Sui Blockchain,' capable of Move-native code generation, smart contract assistance, and context-aware agentic reasoning. 'Walrus provides the global data layer for builders, giving them full control over their data and new ways to create value. Our collaboration with showcases the power of Walrus for decentralized AI, enabling a truly secure and programmable foundation for cutting-edge AI model development,' said Rebecca Simmonds, Managing Executive of the Walrus Foundation. By combining secure data infrastructure with innovative federated learning, this partnership opens new avenues for builders to create more collaborative, private, and powerful AI models, creating value and control for developers in the new data economy.
Business Insider
a day ago
- Business
- Business Insider
Ika Launches Mainnet to Enable Native Cross-Chain Asset Control on Sui Blockchain
Ika, the pioneering blockchain infrastructure provider, has officially launched its mainnet, marking a significant milestone in blockchain interoperability. The launch introduces the first-ever zero-trust multiparty computation (MPC) network capable of native cross-chain asset control directly from smart contracts on the Sui blockchain. Ika's protocol allows Sui-based smart contracts to securely and seamlessly manage native assets across many blockchains, including Bitcoin, Ethereum, and modern L1s and L2s, without relying on bridges, token wrapping, or trusted third parties. This breakthrough eliminates common risks associated with cross-chain solutions, such as vulnerabilities inherent in bridging protocols or wrapped tokens, fundamentally transforming blockchain interoperability. At the heart of Ika's innovation is the introduction of dWallets, a decentralized, programmable, and transferable signing mechanism. dWallets enable both the user and the Ika network to collaboratively sign transactions, while enforcing logic governed by smart contracts. This empowers developers and institutions to build and operate securely across various blockchains with native asset control. The technological core of Ika is its novel 2PC-MPC cryptography protocol, previously thought impractical for decentralized environments due to latency, scalability, and security constraints. Ika has overcome these hurdles, delivering sub-second latency and linear scalability, without compromising on decentralization, delivering a network that can be supported by hundreds of operators globally. Each operation includes cryptographic safeguards that require explicit user participation, supporting a zero-trust security framework. The network's native token, IKA, plays a critical role by securing the infrastructure through a decentralized, permissionless proof-of-stake consensus mechanism. IKA tokens are integral for transaction fees, spam prevention, rewarding reliable operators, and network governance. Several leading blockchain projects on Sui are already utilizing Ika's mainnet, demonstrating the protocol's versatility and robustness: Native is enhancing Bitcoin liquidity through native lending and DeFi services. Human Tech delivers "Wallet-as-a-Protocol" solutions, seamlessly managing cross-chain assets. Rhei Finance offers institutional-grade zero-trust multi-chain DeFi services. Aeon advances decentralized custody solutions optimized for AI-driven financial management. Nativerse pioneers Bitcoin-backed stablecoins without synthetic or wrapped intermediaries. Ekko integrates AI chatbots with decentralized security via MPC technology. Legacy Link facilitates secure digital asset inheritance through streamlined estate management. Full Sail introduces an advanced Automated Market Maker (AMM) leveraging Ika's interoperability. "Today marks the start of a new era in blockchain interoperability," said Ika Co-Founder Omer Sadika. "Our mainnet launch is not just a technological milestone, but a paradigm shift, bringing native Zero-Trust interoperability to Sui , and unlocking unprecedented possibilities for developers, institutions, and individual users alike." With Ika now live, blockchain projects, financial institutions, and developers can deploy multi-chain applications on Sui, operate as network participants, or engage with the Ika network. For further information, users can visit or follow Ika on X.
Business Recorder
2 days ago
- Business
- Business Recorder
Minister orders Ogra to review gas firms' revenue needs
ISLAMABAD: Minister for Petroleum Division, Ali Pervaiz Malik, has directed the Oil and Gas Regulatory Authority (Ogra) to review every component of the revenue requirements of the Sui gas companies. The aim is to reduce gas prices and address the growing circular debt issue, sources told Business Recorder. The circular debt in the petroleum sector has reached approximately Rs 2.8 trillion. The government, under Prime Minister Shehbaz Sharif is working to resolve this issue in consultation with the International Monetary Fund (IMF). An initial plan has been drafted to mitigate the gas circular debt without placing an additional burden on consumers. To tackle core challenges in the gas sector — including circular debt, LNG tariffs, unaccounted-for gas (UFG) losses, and the rising share of LNG in the national gas mix—the government has established four specialized panels. Consumers lack protection: Ogra failing to act against gas companies: PAC report The petroleum minister, who also chairs the main committee, is overseeing the sub-committees tasked with preparing final recommendations for the highest level of government. In a recent meeting, a senior Joint Secretary from the Cabinet Division read out the composition and Terms of Reference (ToRs) of the four sub-committees. Dr Fakhray Alam Irfan, Secretary of the Power Division and head of the sub-committee on LNG demand synchronization, reported that he chaired a meeting on July 21, 2025. The meeting included representatives from PSO, SNGPL, and CPPA. The Power Division presented a report on the forecasting and management of RLNG demand in the power sector. Dr Irfan pointed out that one of the main issues discussed was the parking of NPD (Net Present Deficit) claims under LNG contracts due to reduced power offtake and the must-run status of RLNG-based power plants. He acknowledged that while the power sector has mostly consumed gas according to firm demand, occasional shortfalls in RLNG lifting occur due to fluctuating power demand caused by weather, generation mix, and system constraints. He added that the pipeline storage limitations raised by the Petroleum Division are valid. To address this, he stressed the need for accurate demand forecasting and improved coordination between NPCC and SNGPL, except in unforeseen circumstances. He also recommended that the Finance Division be consulted on the NPD issue. It was noted that the sub-committee on circular debt mitigation has not yet convened. However, the Additional Secretary (Policy) provided an update on the sub-committee for LNG tariff rationalisation, which met on July 19, 2025. Representatives from all companies across the LNG/RLNG supply chain participated. The meeting covered detailed discussions on various RLNG pricing components. Suggestions were made for reducing or revisiting charges such as terminal fees by PQA, customs duty, FED, Sindh Cess, and company/importer margins. The sub-committee is currently reviewing these cost elements, and formal recommendations will follow. Meanwhile, Ogra Chairman, Masroor Khan who leads the sub-committee on domestic gas tariff efficiency and transparency reported that their meeting on July 21, 2025, was attended by representatives from the Sui companies, KPMG, and the Petroleum Division. The focus was on enhancing operational efficiency and reducing UFG. He noted that the companies are making progress in lowering UFG levels in accordance with benchmarks set by the Ogra. He also provided an update on efforts to review the Return on Asset (ROA) formula for Sui companies. Although the Ogra has made several attempts to hire a consultant, the process has so far been unsuccessful. Recently, the Ogra issued an Expression of Interest (EoI) to potential consultancy firms, and the selection process is expected to conclude soon. Minister Ali Pervaiz Malik emphasized the Ogra must complete its review of each component of the Sui companies' revenue requirements within the next few weeks. Copyright Business Recorder, 2025
Economic Times
2 days ago
- Business
- Economic Times
Cryptocurrency Live News & Updates : Mill City Ventures Invests $450M in Sui
29 Jul, 2025 | 01:55:05 AM IST Mill City Ventures is allocating $450 million to acquire Sui (SUI) tokens, aiming to bridge traditional finance with blockchain technology, backed by notable firms like Galaxy and Pantera. In a significant move for the cryptocurrency landscape, Mill City Ventures has announced a $450 million investment strategy focused on acquiring Sui (SUI) tokens, positioning itself at the intersection of traditional finance and blockchain innovation. This initiative is supported by prominent investors such as Galaxy Digital and Pantera Capital. Meanwhile, Grove Finance is set to launch on Avalanche, deploying up to $250 million in real-world assets to enhance tokenization efforts on the platform. This partnership aims to facilitate the adoption of decentralized stablecoin USDS and attract institutional capital. Additionally, Brickken has integrated with Credefi to create a permissionless lending system utilizing real-world assets as collateral, further expanding the DeFi landscape. In the broader market, Solana's SOL token has seen a 28% increase, generating optimism among traders, although major players remain cautious. Lastly, Tron Inc. has filed a $1 billion shelf registration with the SEC, indicating its commitment to accumulating TRX tokens as part of its evolving corporate strategy. Together, these developments highlight a growing trend of institutional interest and innovative financial solutions within the cryptocurrency sector. Show more
Yahoo
2 days ago
- Business
- Yahoo
Finance Firm Mill City Ventures to Buy $441M in SUI Tokens, Pivoting to Crypto Treasury Strategy
Mill City Ventures III, a publicly traded specialty finance firm, is making a dramatic pivot into crypto with the announcement of a $450 million private placement that will largely fund a new treasury strategy centered on SUI, the native cryptocurrency of the Sui blockchain. Roughly 98% of the funds will be used to purchase SUI on the open market and through direct agreements with the Sui Foundation, according to a press release. The move will make SUI Mill City's primary treasury asset. The remaining 2% will support the firm's existing short-term lending operations. This marks one of the largest SUI allocations to date and ties Mill City's future to the performance of a blockchain designed for high-throughput applications, including payments, gaming and AI infrastructure. Karatage Opportunities, a hedge fund focused on digital assets, led the funding round alongside the Sui Foundation. Founders Marius Barnett and Stephen Mackintosh will take over key leadership roles at Mill City as board chairman and chief investment officer, respectively. The change effectively positions Mill City as a public vehicle for gaining institutional exposure to SUI—an unusual move in the publicly traded financial sector. According to the company, the arrangement includes a foundation-backed strategy with shared insight into the Sui ecosystem. With the deal expected to close by the end of July, Mill City will be among the first publicly listed U.S. firms to formally adopt a blockchain-native treasury approach on this scale. SUI is lower by 1.7% over the past 24 hours. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
