The native token of Sui (SUI) surged on Thursday on news that Trump-affiliated decentralized finance protocol World Liberty Financial (WLFI) stroke a "strategic reserve deal" with the layer-1 blockchain project.
The native token of Sui (SUI) surged on Thursday on news that Trump-affiliated decentralized finance protocol World Liberty Financial (WLFI) had struck a “strategic reserve deal” with the layer-1 blockchain project.
The agreement includes WLFI adding Sui assets to its crypto holdings, the announcement said. The two projects will also explore “product development opportunities.”
SUI jumped as much as 10% to hit highs of nearly $3 before paring gains. Still it was up about 13% in the past 24 hours, being the best-performing asset in the broad-market CoinDesk 20 Index.
“We chose Sui for its American-born innovation combined with impressive scale and adoption,” said Zak Folkman, co-founder of World Liberty Financial. “Given our plans to support foundational DeFi assets in the coming months, collaborating with Sui was an obvious decision.”
World Liberty Financial has already accumulated various digital assets in its “strategic token reserve,” including wrapped bitcoin, ether ETHUSD, Tron's TRX, Chainlink's LINK as well as MOVE and ONDO tokens.
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