What You Need to Know

• The Sui blockchain’s token (SUI) saw a notable increase following a reserve deal with World Liberty Financial (WLFI), a decentralized finance protocol associated with Donald Trump.
• This agreement allows WLFI to integrate Sui assets into its inventory and consider potential product collaborations.
• WLFI has already gathered several digital currencies for its strategic reserve, including wrapped bitcoin, ether (ETH), Tron’s TRX, Chainlink’s LINK, and both MOVE and ONDO tokens.

The native token of Sui (SUI) soared on Thursday after reports emerged that the Trump-associated decentralized finance entity, World Liberty Financial (WLFI), established a strategic reserve agreement with the Sui blockchain project.

This arrangement involves WLFI incorporating Sui assets into its crypto portfolio. Additionally, the two entities are set to look into avenues for product innovation together.

As a result, SUI surged by as much as 10% to about $3 before retracting slightly. Ultimately, it remained up approximately 13% over the last 24 hours, marking it as the top asset in the wider CoinDesk 20 Index.

“We chose Sui for its American-born innovation combined with impressive scale and adoption,” said Zak Folkman, co-founder of WLFI. “Given our plans to support foundational DeFi assets in the coming months, collaborating with Sui was an obvious decision."

WLFI has previously amassed different digital currencies for its strategic token reserve, including wrapped bitcoin, ether (ETH), TRX from Tron, LINK from Chainlink, as well as MOVE and ONDO tokens.