The Sui network has attracted significant investment from institutional investors seeking to capitalize on its growing popularity.
SUI price has already broken out of a multi-week falling trend and is aiming for a new ATH soon.
Since the beginning of this week, the Sui (SUI) price has rallied more than 55 percent to trade at about $3.29 on Thursday, April 24 during the late North American trading session. The large-cap altcoin, with a fully diluted valuation of about $32.8 billion and a 24-hour average trading volume of around $3 billion, led the top 20 crypto assets in bullish sentiment following today’s 11 percent gain.
In the past 24 hours, Sui’s Futures Open Interest (OI) surged 21 percent to hover about $1.29 billion, up from $491 million on March 11. As a result of the heightened volatility, more than $12.88 million was liquidated from Sui’s leveraged market.
Sui Network Growth Outlook
The Sui network has experienced explosive growth in the past few months, catalyzed by rising demand for institutional investors. As of this writing, the Sui network had a total value locked of about $1.45 billion and a stablecoins market cap of around $865 million.
In the past 24 hours, the Sui network has announced several strategic investments by institutional investors led by Space and Time and Grayscale Investments.
Earlier on Thursday, the Sui Network announced the launch of the Sui Mastercard, in collaboration with the xPortal crypto wallet.
Sui Mastercard? @xPortalApp is making that happen AND bringing their 2.5M-user wallet to Sui!
In their app, you can: → Spend SUI with a Sui-branded virtual Mastercard → Custom wallet UI that reps your favorite chain → Built-in access to NFTs, dApps, staking, and more →… pic.twitter.com/o1gY4QrTZc
As the wider altcoin market signals bullish sentiment following the Bitcoin price pump above $93k, the SUI price has already signaled bullish sentiment.
In the daily timeframe, SUI’s MACD indicator has already crossed above the signal line, thus suggesting the buyers are in control. Additionally, the daily Relative Strength Index (RSI) has already crossed the 70 percent level, suggesting the onset of a parabolic rally.
The Federal Bureau of Prison has moved Sam Bankman Fried, the former FTX CEO to a Southern-California prison which is known for brutalism and violence.
According to a BOP inmate locator, he is now being held at a medium security facility in Victorville, as of Wednesday. Before the transfer, Fried spent two weeks at an Oklahoma Transfer Center. He spent over 18 months at the Metropolitan Detention Center (MDC) in Brooklyn, N.Y.
There is a significant level of violence at FCI Victorville Medium II prison where fights are regular, and stabbings are not uncommon. The facility currently holds over 1,400 inmates which has witnessed serious incidents including a 2013 inmate murder, stabbing of warden in 2017 and multiple assaults on guards.
Notably, the medium security prisons have a low quality of life even when compared to lower security prisons. The West Coast prisons are often dominated by gang activity and intense prison politics than that at east-coast or mid Atlantic facilities, as per a federal prison consultant Christopher Zoukis.
As per a webpage from Christopher Zhouki’s consulting firm, Victorville, known as ‘Victimville’ in some communities is known for being highly political and racially divided. Inmates are required to be part of a racially-oriented car to stay. One inmate even said that a car is required for personal safety. In prison slang, a “car” refers to a group of inmates, usually from the same race or area, who stay together for safety and support.
Fried was sentenced to 25 years in November 2023 for defrauding users, which was considered to be one of the biggest financial crimes in the US in about 250 years. He was convicted on seven counts of fraud and conspiracy, although he still claims that he is not a criminal and plans to appeal. He will also have access to a digital law library, recreational activities like basketball and football, leather working, art and also includes courses in Microsoft 2010.
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The Federal Bureau of Prison has moved Sam Bankman Fried, the former FTX CEO to a Southern-California prison which is known for brutalism and violence. According to a BOP inmate locator, he is now being held at a medium security facility in Victorville, as of Wednesday. Before the transfer, Fried spent two weeks at an …
Video-sharing platform Rumble has confirmed the purchase of a cache of BTC for $17 million, joining a growing list of firms embracing the asset. The purchase follows a blueprint to allocate a chunk of its corporate treasury to Bitcoin back in 2024.
Rumble Adds 188 BTC To Its Corporate Treasury For $17.1 Million
According to a press release, Rumble has purchased around 188 BTC to its treasury in line with its plans to diversify its holdings. Per the statement, the video-sharing company splurged 17.1 million on the purchase at an average price of $91,000 per token.
Back in 2024, Rumble disclosed plans to allocate 20 million from its corporate treasury to pursue a Bitcoin accumulation strategy. With around $3 million left, there are plans that the company will continue to bolster its holdings at the discretion of management.
“We are excited to announce these purchases and allocation of Bitcoin as part of our treasury strategy as well as a larger strategic move as we further expand our ties to the crypto industry,” said Rumble CEO Chris Pavlovski.”
The latest purchase will serve as an inflation hedge for Rumble while confirming a broader push to embrace cryptocurrencies. President Trump’s executive order for Strategic Bitcoin Reserve is tipped to trigger increased corporate interest in BTC.
“These holdings have the potential to serve as a valuable hedge against inflation and will not be subject to dilution like so many overprinted government-issued currencies,” added Pavlovski.
Corporate Interest in BTC Rises To An All-Time High
Rumble’s decision to add BTC to its balance sheets comes on the heels of frenetic accumulation activity by corporations. Over 70 publicly listed firms are holding 650,000 BTC in their corporate treasuries, confirming rising institutional interest.
Strategy, with its impressive holdings, is raising $21 billion for BTC purchases through share sales. MARA Holdings, Riot Platforms, and Metaplanet are steadily increasing the size of their Bitcoin holdings.
Aware of rising institutional interest, Bitwise OWNB ETF will provide exposure to companies holding at least 1,000 BTC via an index strategy.
Kraken Team of Janover:- A lot has happened with Janover (NASDAQ: JNVR) in the few past days. One of the leading crypto exchanges, Kraken, invested in its private offering fundraising of $42 million last week.
With other investors including Pantera Capital, Arrington Capital, the AI-powered real estate lending firm is also focusing on its Solana Treasury strategy. It is slowly aiming to transition from a fintech company to Web3 pioneer in DeFi.
This all is happening after an all-former Kraken team acquired majority ownership in the company on April 7. The press release revealed the reason to be for “bridging the liquidity gap between Traditional Finance and Decentralised Finance.” In fact, Janover is soon set to rename to “DeFi Development Corporation” with a new ticker symbol.
But, let’s come straight to the point:- Why are former Kraken Executives Interested in Janover? Before it, the firm was purely AI platform focused on connecting the lenders and borrowers in the real estate market.
Decoding the Acquisition by Kraken Team
The Kraken team has notably bought 728,632 shares of Janover common stock with its share witnessing a whopping 1,000% surge soon after it unveiled its treasury strategy. The impressive market performance highlights the bullish response on its DeFi amibitions and transitions.
A CNBC report compared its renewed ambitions with that of becoming the next “MicroStrategy” but for Solana. As of April 13, 2025, MicroStrategy – now operating under the name Strategy – holds 531,644 bitcoins,
Janover’s bid is evident on the surface. It is following a bold new treasury strategy architected by former Kraken management executives.
As part of its new Treasury Strategy, Janoger on April 11 completed purchase of $5 million of Solana (SOL) tokebs. This brings its total Solana holdings to 83,084 worth $9.6 million. It immediately started staking it’s SOL immediately for revenue yields.
JNVR SOL Holdings
Further, Janover operates in the $3 trillion+ U.S. commercial real estate (CRE) sector—a space that’s historically underserved by tech.
This gives Kraken-aligned investors a “real-world asset” (RWA) entry point. The company plans to rename itself to DeFi Development Corporation, signaling a serious pivot to Web3-first business models.
As part of the transition, Janover aims to become the first U.S.-listed company offering public market investors direct exposure to Solana’s ecosystem.
The Company also aims to operate one or more Solana validators. This is aimed at enabling it to stake its treasury assets, participate in securing the network, and earn rewards that can be reinvested.
The broader goal, according to the company, is to build a transparent, long-term value engine that compounds net asset value (NAV) and serves as a scalable gateway to DeFi within public equity markets.
Notably, as per the revelation, Janover isn’t pivoting away from its core—it’s enhancing its fintech model with blockchain principles.
JNVR Stock Since Acquisiition
Who are the Kraken Team Members Leading Janover Now?
Following the acquisition, the Board of Directors appointed Joseph Onorati as Chairman and CEO, and Parker White as Chief Investment Officer and Chief Operating Officer.
The new leadership, including Joseph Onorati as CEO and Parker White as CIO/COO, brings extensive experience from the crypto industry.
1. Joseph Onorati served as Chief Strategy Officer at Kraken Digital Asset Exchange.He also founded and led a high-frequency crypto market maker and briefly served as interim CEO at CaVirtEx, Canada’s first Bitcoin exchange, which was acquired later by Kraken.
2. Parker White was the Director of Engineering at Kraken Digital Asset Exchange.He currently operates a Solana validator with $75 million in delegated stake and previously managed a $2 billion bond portfolio at an institutional investment firm.
Additionally, Marco Santori, former Chief Legal Officer at Kraken, has also joined Janover’s Board of Directors.
However, Janover’s founder, Blake Janover, and Director and Audit Committee Chair William Caragol continue to on the board to ensure continuity in the company’s operations.
Notably, Janover isn’t a whitepaper project — it’s a revenue-generating commercial lending platform in a $3T+ real estate market. This proves to be a safer bet for Kraken Team than pure crypto startups – for leading and securing space in DeFi.
Next Microstrategy?
Janover is making this transition at a strategic time. With institutions warming up to stablecoins, tokenized U.S. Treasuries, DeFi yield products, it can have an edge in its ambitions.
Janover’s treasury pivot could position it as a leader in real-world asset integration, which Kraken-affiliated strategists are likely bullish on.
But it is still to early to see it in par with Microstrategy. Investors can keep an eye as its future plans unfold.
