Latest news with #SuiFoundation
Time of India
a day ago
- Business
- Time of India
Cryptocurrency Live News & Updates : Coinbase Launches DEX Feature for U.S. Users
08 Aug 2025 | 11:55:13 PM IST Coinbase has introduced a decentralized exchange (DEX) feature for select U.S. users, allowing instant swaps of Base-native tokens while maintaining centralized exchange benefits. Coinbase is making waves in the crypto space by integrating a decentralized exchange (DEX) feature for select U.S. users, enabling them to trade Base-native tokens instantly. This strategic shift allows users to bypass traditional listing processes, enhancing access to a broader range of assets. Meanwhile, WBETH has reached a new all-time high, trading at 4,342.02 USDT, marking a 5.64% increase in just 24 hours. In Switzerland, Sygnum Bank has partnered with the Sui Foundation to offer regulated custody and trading for SUI, catering to institutional demand for secure digital asset exposure. Additionally, Huaxing Capital's founder, Bao Fan, has resurfaced, announcing a $100 million investment in Web3 and cryptocurrency sectors, following his mysterious disappearance earlier this year. Lastly, Zebec Network is showing strong bullish trends, indicating a potential breakout to new all-time highs as it consolidates near key resistance levels. Together, these developments highlight the dynamic landscape of cryptocurrency, with significant advancements in trading options, institutional interest, and market performance. Show more
Finextra
2 days ago
- Business
- Finextra
Digital asset bank Sygnum integrates Sui blockchain token, SUI
Sygnum, a global digital asset banking group, today announces a variety of accessible custody, trading, and lending solutions for layer-one cryptocurrency, SUI, broadening access for professional and institutional clients to the Sui ecosystem. Sygnum's regulated product portfolio and bank-grade infrastructure provides Sui with a trusted gateway to tap into the accelerating inflows from financial institutions, banks, asset managers and High Net Worth Individuals (HNWI). 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. SUI is fully integrated into Sygnum's banking platform. Regulated services include institutional-grade digital asset custody, spot and derivatives trading, staking and Sui collateral-backed Lombard Loansii, complemented by a broad range of traditional securities. "Broadening institutional access to the Sui ecosystem further expands Sui's reach to the global institutional investor community,' said Christian Thompson, Sui Foundation CEO. 'Sygnum's crypto-native team, end-to-end regulated offering and trusted infrastructure make them our ideal banking partner as we continue to build and scale.' 'We're pleased to be a banking partner for the Sui Foundation and expand access to professional and institutional investors via Sygnum, a regulated bank', said Mathias Imbach, Sygnum Co-Founder and Group CEO. 'Sygnum's unique understanding of digital assets sits at the intersection of the rapidly converging digital asset and regulated financial ecosystems. We are excited to support the Sui Foundation in developing the future-proof, opportunity-ready treasury it needs to continue its growth trajectory.' Sui, developed by a team of former Meta engineers at Mysten Labs, is designed to deliver crypto's decentralised benefits with the ease and familiarity of today's internet. The Sui blockchain processes activity in parallel, making it highly scalable in the same way as Cloud services. Sui supports a wide range of applications, including DeFi, instant payments, Real-World Asset (RWA) tokenization and gaming. It is also an early leader in BTCfi (Bitcoin Finance) where it enables Bitcoin owners to engage with DeFi and earn, lend, and trade without compromising security.
Yahoo
28-07-2025
- 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
Yahoo
28-07-2025
- Business
- Yahoo
SUI Joins Bitcoin, Ethereum With Its Own Treasury Company: Look Who's Building A $450 Million Reserve
Mill City Ventures III, Ltd. (NASDAQ:MCVT), a non-bank lender and specialty finance company, announced a $450 million private placement to adopt a Sui (CRYPTO: SUI) treasury strategy, marking a significant shift toward blockchain investment. The company will allocate 98% of the net proceeds to acquire SUI tokens, the native cryptocurrency of the Sui blockchain, positioning itself as the sole SUI treasury supported by the Sui Foundation. The private placement involves the sale of 83,025,830 shares of common stock at $5.42 per share, with the closing expected on or about July 31, subject to customary conditions. Karatage Opportunities, a London-based hedge fund specializing in digital assets, and the Sui Foundation led the investment, joined by prominent firms like Galaxy Digital Inc. (NASDAQ:GLXY), Pantera Capital, and Electric Capital. Galaxy Asset Management will serve as the asset manager. Mill City will acquire SUI tokens through open market purchases, institutional-grade deal flow, and a negotiated agreement with the Sui Foundation, providing a publicly traded structure with daily liquidity. This industry-first partnership with the Sui Foundation aims to leverage the blockchain's scalability, speed, and security for applications in stablecoins, AI, gaming, and finance. Upon closing, Karatage co-founders Marius Barnett and Stephen Mackintosh will assume roles as Chairman of the Board and Chief Investment Officer, respectively. Also Read: Dana Wagner, a former general counsel at Square, will join as an independent board director. "We're launching at a pivotal moment when institutional crypto and AI are reaching critical mass," said Stephen Mackintosh, proposed Chief Investment Officer. "Sui is well positioned for mass adoption with the efficiency institutions require." Christian Thompson, Managing Director at the Sui Foundation, emphasized, "Sui was built to support the next generation of decentralized applications and real-world crypto use-cases." Mill City will continue its short-term lending and specialty finance operations, allocating 2% of the proceeds to this business. The securities are offered under an exemption from registration under the Securities Act of 1933, with a registration statement for resale to be filed with the SEC. Other companies with altcoin treasury strategies include Strategy (NASDAQ:MSTR), which holds Bitcoin (CRYPTO: BTC), and Tesla (NASDAQ:TSLA), with Bitcoin reserves, as reported by public SEC filings. Additionally, Marathon Digital Holdings (NASDAQ:MARA) maintains Bitcoin as a treasury asset, per its 2024 financial statements. Also, BTCS Inc. (NASDAQ:BTCS) on Monday announced it has increased its Ethereum (CRYPTO: ETH) reserves by 14,240 ($55 million) to 70,028 ETH, citing a fair value of roughly $270 million. Read Next: Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article SUI Joins Bitcoin, Ethereum With Its Own Treasury Company: Look Who's Building A $450 Million Reserve originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Business Insider
16-07-2025
- Business
- Business Insider
Meet Christian Thompson, the security expert betting big on Africa's Web3 builders
As blockchain adoption accelerates globally, new networks are under pressure to deliver on old promises: security, scalability, user experience, and meaningful real-world utility. In emerging markets like Africa, these demands are even more acute, where innovators and investors alike are looking for technology that can drive inclusion, power local economies, and connect them to the global digital ecosystem. Sui, a next-generation Layer 1 blockchain, is one of the networks aiming to fill that gap. Launched to enable what it calls mass adoption, Sui claims to make blockchain as easy to use as the web itself, while solving the security and scalability challenges that have long dogged the industry. At the center of this effort is Christian Thompson, Managing Director of the Sui Foundation. A veteran with experience spanning software entrepreneurship, law enforcement, and a high-profile stint leading blockchain security at Meta's Libra/Diem project, Thompson brings a cross-disciplinary view to what blockchain needs next. In this exclusive interview with Business Insider Africa, Thompson explains Sui's philosophy, its technical differentiators, its approach to security and user experience, and its ambitious bet on supporting developer communities across Africa. 'Throughout my career, I've always had a deep interest in how technology can be used to empower individuals while maintaining trust,' Thompson begins, reflecting on his path to Web3. 'At Meta, I led blockchain security for the Libra/Diem initiative, which opened my eyes to both the possibilities and the limitations of existing blockchain infrastructure. That experience, combined with my earlier work founding software companies and in law enforcement, shaped my belief that decentralization is a design philosophy for trust. That journey ultimately led me to the Sui Foundation, helping build infrastructure that enables real utility and mainstream adoption in a secure, scalable way.' Sui's pitch to developers and businesses is bold: to be the blockchain designed specifically for mainstream adoption. Rather than focusing narrowly on financial applications or crypto-native users, Sui's vision is to become a global coordination layer for digital assets of all kinds. 'Sui is the only blockchain built for mass adoption. It serves as the global coordination layer for intelligent assets, helping individuals and businesses securely create, own, and transact digital assets without intermediaries,' Thompson explains. 'Sui's architecture, which is based on the Move programming language, enables fast, scalable, and intuitive digital experiences. Sui is designed to deliver the performance and simplicity needed to power real-world applications, from identity to gaming and everything in between.' Competition among Layer 1 blockchains is intense, with projects racing to address known bottlenecks like high fees, slow transactions, and poor developer experience. For Thompson, Sui's differentiator is clear: its approach to security and scalability begins at the protocol level. 'Security at Sui starts at the protocol level,' he says. 'The Move language was designed to eliminate common vulnerabilities by defining digital assets as objects with clearly defined rules. This object-centric model is easier to audit and harder to exploit than traditional smart contract architectures. In addition to this unique approach, we invest heavily in formal verification and modern cryptography to enhance security.' Security alone, however, isn't enough to unlock mass adoption. Thompson points out that blockchain's notoriously bad user experience has been one of its biggest obstacles. Sui's design explicitly aims to overcome that, making blockchain interactions feel as seamless as using a modern web app. 'Accessibility is central to the Sui ecosystem,' Thompson says. 'Sui is built to make crypto feel like the Web experience most people are already used to. It is seamless, safe, and intuitive, with a variety of features created to ensure accessibility. zkLogin, for example, allows users to access blockchain apps with familiar logins like Google or Facebook, no seed phrases, and no browser extensions. Meanwhile, Sui Passkeys bring passwordless security via biometrics, and sponsored transactions mean users don't even need to hold crypto to get started.' For developers evaluating blockchain platforms, Thompson says Sui's scalability and developer experience are designed to remove many of the industry's traditional headaches. 'Sui is faster, more scalable, and more developer-friendly, thanks to the Move programming language and horizontal scalability,' he notes. 'This enables developers to build apps that scale with demand, without facing performance trade-offs. Developers can directly access and compose assets without needing smart contract intermediaries, leading to faster development, lower costs, and better user experiences.' Thompson is also no stranger to the world of regulation. Having worked closely with global regulators while at Meta, he has a sober view of the need for clear frameworks, even as the industry resists heavy-handed oversight. 'We're at an inflexion point in crypto regulation, with policymakers globally realizing that existing legacy frameworks don't fit digital assets, and a growing emphasis on purpose-built regulations,' he says. 'Sui is committed to working within these frameworks to ensure long-term success while preserving the decentralized ethos.' Beyond technology and policy, the Sui Foundation is betting on developer communities as the engine of blockchain's real-world impact. In particular, Thompson points to Sui's investments in local hubs that can support developers in emerging markets where blockchain is seen not just as a speculative asset, but as infrastructure for solving real problems. 'Developers and entrepreneurs are the backbone of blockchain adoption and we firmly believe that some of the most innovative blockchain solutions will come from local communities solving local challenges with global relevance,' he says. 'Sui provides a full stack of support to developers and builders across the world, through grant programs and technical mentorship to in-person opportunities for learning and connection. A recent example is SuiHub Lagos, a space dedicated to supporting the next generation of West African builders. It offers workshops, technical office hours, funding access, and hands-on support from international mentors. Sui launched this hub following months of community engagement in the area, including hackathons and educational outreach.' This emphasis on local empowerment shapes Sui's broader philosophy of community building. 'A thriving ecosystem begins with empowerment,' Thompson says. 'Sui works with communities around the world to offer them tools and resources to address local challenges with a global outlook. Investing in tailored, localized hubs like those in Lagos and Athens leads to real ownership and opportunities to lead. These spaces foster collaboration, mentorship, and global connectivity, linking builders to the broader Sui network. Sui's object-centric architecture and governance model are designed to support transparent, inclusive decision-making, ensuring that as the network scales, the community scales with it.' Africa, in particular, is a region where Thompson sees enormous promise for blockchain technology. 'Africa is a continent of extraordinary innovation and ambition, particularly in tech-forward regions like Nigeria,' he says. 'SuiHub Lagos is a permanent, community-led space that connects local developers to the global Sui ecosystem. This hub serves as a physical anchor for West Africa's vibrant builder community, offering hands-on engineering support, international mentorship, funding opportunities, and educational programming. We've seen firsthand how local talent is already using Sui to address critical issues, and we're committed to deepening that impact, including through a $1.3 million developer training donation from Mysten Labs co-founder and original Sui contributor, Adeniyi Abiodun. We believe that Africa will be a significant force in the future of blockchain, and SuiHub Lagos is just the beginning.' Looking ahead, Thompson is bullish about Sui's role in the next phase of the internet's future, which he believes will be powered by blockchain infrastructure that's invisible to the end user, but fundamental to how we coordinate, trade, and build online. 'Sui is building for the internet's next chapter,' he says. 'In the coming years, Sui will become the backbone of a new class of mainstream digital applications, where billions of people interact with onchain assets as naturally as they use the internet today. From decentralized identity to AI-driven systems, everything will run on a network that's fast, reliable, and invisible to the end user. To get there, we're doubling down on composability, developer experience, and global ecosystem growth. We want builders to stand on the shoulders of existing projects and extend them even further. That's why we've built tools like Move Registry and launched SuiHubs around the world to localize support, grow talent pipelines, and create a truly global developer network. We also see Sui as a core enabler of digital coordination, helping people and institutions collaborate on a massive scale without intermediaries. Whether that's tokenizing real-world assets, supporting stablecoin payments, or powering decentralized data for AI, Sui's architecture is designed to scale with demand while preserving security and trust.'
