The SEC approved a 2x leveraged ETF tied to SUI as regulators warn that excessive leverage continues to amplify volatility across crypto markets. The US Securities and Exchange Commission (SEC) has approved a leveraged exchange-traded fund tied to the SUI token from 21Shares, allowing investors to gain amplified exposure to the Sui ecosystem as questions persist about the risks of leverage in crypto markets. On Thursday, the Sui Foundation announced that 21Shares has launched its 2x leveraged SUI (SUI) ETF, trading under the ticker TXXS on the Nasdaq. The fund is designed to deliver twice the daily return of SUI, giving investors a way to gain leveraged exposure without directly holding the cryptocurrency. In practical terms, if SUI rises 10% in a single day, the ETF aims to rise by about 20%. Losses are similarly magnified on the downside. Read more
Gold advocate Peter Schiff faced Binance co-founder Changpeng "CZ" Zhao during an event panel in Dubai, arguing that tokenized gold is a better store-of-value asset than Bitcoin. A panel featuring gold advocate Peter Schiff and Binance co-founder Changpeng “CZ” Zhao at Binance Blockchain Week highlighted the challenges of verifying physical gold, after Schiff was unable to confirm whether a gold bar presented to him was genuine. The debate centered on whether tokenized gold or Bitcoin (BTC) is a better store of value asset based on divisibility, portability, verifiability, durability and supply constraints — key factors in assessing an asset’s viability as money. CZ argued that BTC is a better medium for storing value for several reasons, including the ability for any user to instantly verify the cryptocurrency through a full node or other methods that check a cryptographically secure public ledger. Read more