SUI became Korean Parliamentary Inspection Issue - Blockmedia Articles timeline

[Blockmedia] After Min Byung-duk, a member of the Democratic Party in South Korea, pointed out the SUI circulation issue at the Financial Supervisory Service’s Parliamentary audit, the market’s attention is focused on the direction of the SUI coin.

On the 17th(KST), Representative Min Byung-duk said, “SUI listed on 5 domestic exchanges (Upbit, Bithumb, Coinone, Korbit, GoPax) has dropped 67.1% in 5 months since its listing. The Digita Asset eXchange Alliance(DAXA) has not taken any measures against the price drop, and there are many complaints from investors.”

Representative Min said, “The SUI Foundation staked coins that should have been non-circulating, acting in their own self-interest. They sold the coins received as interest in the market and increased the circulation”

In response, Lee Bok-hyun, the head of the Financial Supervisory Service, said, “If what the representative pointed out is correct, I think there is a problem,” and “If there is content equivalent to unfair disclosure or manipulation of circulation volume through staking, we will check it at the FSS level and inspect DAXA.”

SUI’s trading volume in Korea exceeds 20% of the total spot trading volume. On October 18th, SUI fell 5.4% from the previous day and 8.6% from a week ago.

Blockmedia has continuously reported on the circulation issue of the SUI. The link below is the timeline of articles.

[Blockmedia] SUI became Korean Parliamentary Inspection Issue – articles timeline