Sushi may be moving from Ethereum to Solana

In an unexpected yet pretty much expected move, FTX CEO looks to have Sushi and Sushiswap moved from Ethereum to Solana, thereby Jeopardizing Ethereum’s Monopoly over DEFI. Sushi has quickly risen to become one of the top DEFI projects with over $800m locked. It represents most of the $1.4b of liquidity that Uniswap has. If moved to Solana and combined with Serum, it could challege for DEFI supremacy.


Sushi Coin’s Founder Sells out

Sushi, on the eve of moving from Uniswap to SushiSwap has changed owners. The original owner of the protocol, Chef Nomi, sold all his tokens worth over $10 million and gave the keys to a big investor. The move from Uniswap to Sushiswap(which is a cut and paste of Uniswap) has been delayed. It looks like the original founder has decided to exit scam.

$50 billion moves out of China via crypto

The Chinese currency system is a very limited and prohibitive one with individuals banned from buying more than $50,000 per year of foreign currency with Chinese RMB. Thus, it is not allowed to be traded freely on the open market. However, the movement of some $50b out of China(Capital flight) signals that some are using crypto to get around this rule.