SuShi get rescued after founder sell off devs funds, now it's belongs to FTX CEO.

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4 years ago

The clone from Uniswap protocol the SuShiSwap project get rescued in an unprecedent move by FTX CEO in a Hot weekend after the "chef Nomi" the dev former owner of the SUSHI sold his funds dedicated to infrastructure of the project, he exchanged 2,558,644 SUSHI tokens and received 20,039 ETH worth almost $13M which caused a total nearly collapse to the project.

That sell off by Nomi plunged the price of SUSHI in more than 88% causing severe loses in the community who support the project and if the FTX CEO (Sam Bankman-Fried) didn't step in to rescue, the SuShiSwap project was going to Zero.

After Chef Nomi sold the devs funds the community raised voices about a possible exit scam by the anonymous founder, who promptly answered that he wasn't leaving the project but was focusing more in the migration process of the SUSHI project, which didn't convinced the supporters of the protocol, that lead the Founder to make settlement with Sam Bankman-Fried to pass him the Admin Keys of the project.

With the move, the credibility of SUSHI and also the price stability of the token get normalized, traded at moment of writing nearly $3 per coin.

The community supporters of the SUSHI also made their voice heard react positive on the new phase of the project now leaded by FTX CEO, with CEO of BitMex and Su Zhu, the CEO of Three Arrows Capital.

Stay tuned for more exciting updates on the cryptocurrency space, don't forget to download Brave Browser and support my writings, subscribe for more topics updates.

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4 years ago

Comments

There's still a lot of thing I dont know about cryptocurrency. I've never heard about it. Is sushi a token, or cryptocurrency?

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4 years ago

Sushi is a intent swap platform (exchange) and also a token who govern the Platform SUSHISwap!

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4 years ago

Please subscribe me and comment

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4 years ago

Please subscribe me and comment

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4 years ago

People, are still after the money, and they will be forever. It was very good that the project was rescued, and it will move on.

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4 years ago

Yes that is the good on it because clearly Nomi was doing some bad moves that could cause the collapse of the whole project, one That is listed even on Binance!

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4 years ago

Oh wow. Thats quite a story. But it does mean some important people believe in this project.

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4 years ago

Yes mate, the SUSHI mania have hit even the Binance heart with the coin being listed there!

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4 years ago

This is very amazing article I like your article

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4 years ago

Thanks and I hope you can give a little round on my profile to see amazing articles that suit your needs..welcome onboard mate🙌

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4 years ago