YEREVAN (CoinChapter.com) — Crypto news today, Oct. 15, 2024, highlights major events impacting the market. Sui Foundation addresses insider selling claims, Australia’s first Ethereum ETF goes live, and Metaplanet increases its Bitcoin holdings.
Sui Foundation Denies $400 Million Insider Selling Allegations
The Sui Foundation has addressed concerns about $400 million insider selling allegations involving the Sui token. A crypto analyst, Lightcrypto, claimed on social media that insiders were behind the sale during the recent surge in the Sui token price. However, the foundation strongly rejected these claims.
Lightcrypto Criticizes SUI’s Price Surge and Insider Sales. Source: @lightcrypto
In its statement, the Sui Foundation made it clear that neither insiders, including employees of Mysten Labs nor its founders, sold tokens during this period. The organization specified that no one from within the foundation or associated entities sold the tokens. The foundation pointed out that the wallet in question might belong to an infrastructure partner who operates under a lock-up schedule.
All token lock-ups are monitored by qualified custodians and are fully compliant with the foundation’s rules. Despite these allegations, the Sui token remains stable, with a current trading price of $2.22. Over the past month, the Sui token surged by 100%, showing significant growth, although there have been minor fluctuations in recent days.
Australia’s First Ethereum ETF Goes Live
On Oct. 15, Australian crypto news reported the launch of its first Ethereum ETF, called the Monochrome Ethereum ETF (IETH). This allows investors direct exposure to Ether. By midday, the ETF had reached $176,600 (or 262,500 Australian dollars) in total assets.
The Monochrome Ethereum ETF allows both cash and Ether-based transactions. It follows the earlier launch of the firm’s Bitcoin ETF in June, which has since grown to $10.7 million in assets. The Monochrome Ethereum ETF has a management fee of 0.50%, and crypto custodians BitGo and Gemini will manage the fund’s assets. State Street Australia serves as the fund’s administrator.
Metaplanet’s Stock Rises After Bitcoin Purchase
Japanese investment firm Metaplanet made crypto news headlines on Oct. 15 after announcing its latest Bitcoin purchase. The firm acquired 107 Bitcoin, bringing its total holdings to 855.5 BTC, valued at over $56 million. This purchase caused Metaplanet’s share price to rise by 16%.
Metaplanet Announces Additional Bitcoin Purchase. Source: Metaplanet Inc.
The recent Bitcoin purchase was completed at an average price of $62,520 per coin, which was 5.8% below the market price at the time. This acquisition is part of Metaplanet’s ongoing strategy to increase its Bitcoin reserves. The company has more than doubled its holdings this month with multiple purchases in October.
CEO Simon Gerovich confirmed that Metaplanet has drawn inspiration from MicroStrategy’s Bitcoin investment approach. The firm has steadily increased its Bitcoin holdings since adopting this strategy, and it now ranks among the largest Bitcoin-holding public companies.
Bitcoin Holdings of Public Companies. Source: BitcoinTreasuries.net
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