๐จ $50M Buyback & SUI Confusion
BlockBeats just reported:
โ Nasdaq-listed SUI Group (SUIG) finished a $2M stock buyback.
โ The board approved a new $50M repurchase program for its stock.
โ SEC filings show SUI Group also boosted its crypto holdings by +20M $SUI , now sitting on 101.7M tokens.
Soโฆ bullish for Sui crypto? ๐ค
Hereโs the breakdown:
๐น SUI Group (SUIG)
โ Public company, trades on Nasdaq.
โ Rebranded from Mill City Ventures.
โ Its buyback plan is for its own stock, not $SUI tokens.
โ Goal = pump SUIGโs share price.
๐น Sui crypto (SUI)
โ Layer-1 blockchain, developed by Mysten Labs.
โ Managed by the Sui Foundation (non-profit).
โ Completely separate from SUI Group.
๐น The Connection
SUI Group has a deal with the Sui Foundation to accumulate tokens at a discount. Theyโre stacking SUI as a treasury asset โ which gives TradFi investors indirect exposure without touching crypto exchanges.
โ๏ธ Is this bullish?
โ โ Positive: Institutional exposure + a Nasdaq-listed company officially holding SUI.
โ โ Neutral: The $50M buyback boosts SUIG stock, not SUI tokens directly.
๐ Bottom line: Good for the ecosystem, but donโt confuse a stock buyback with tokenomics.
