The Daily: Sui Foundation disputes $400 million insider selling allegation, bitcoin strengthens amid Trump’s rising election odds and more
2024-10-16

Happy Tuesday! In today's Daily, the Sui Foundation disputes a $400 million insider selling allegation, bitcoin strengthens amid Donald Trump's rising election odds, U.S. spot Bitcoin ETFs see more than half a billion dollars worth of inflows and more.
Meanwhile, Canary Capital seeks approval from the SEC for a spot Litecoin ETF.
Let's get started.
Sui Foundation disputes $400 million insider selling allegation
The Sui Foundation rebutted social media allegations of $400 million worth of insider selling on the open market during the recent Sui token price surge.
Bitcoin strength driven by correlation to rising Trump election odds, Bernstein says
Bernstein analysts attribute bitcoin's recent price surge above $66,000 to its correlation with rising odds of Donald Trump winning the 2024 U.S. presidential election.
US spot Bitcoin ETFs see over half a billion dollars in net inflows — largest since early June
U.S. spot Bitcoin ETFs saw net inflows of $555.9 million on Monday, the largest since June 4, with no net outflows reported by any fund.
Blockstream secures $210 million to drive Layer 2 growth and expand its bitcoin treasury
Following the buzz around CEO Adam Back's appearance in the HBO documentary last week, Blockstream announced Tuesday it had secured $210 million via a convertible note financing round led by Fulgur Ventures.
Base becomes largest Ethereum rollup by total value locked, surpassing Arbitrum
Base has become the largest Ethereum Layer 2 rollup by total value locked, reaching $2.5 billion across 366 protocols, surpassing Arbitrum.
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