Russian exchange raided against backdrop of cash-to-crypto ban proposal

The SUI token has surged to an all-time high (ATH) price after the revelation of the project’s partnership with the American University of Sharjah (AUS) in the United Arab Emirates (UAE) to establish the AUS-Sui Blockchain Academy. SUI is the native token of the Sui blockchain, a layer one blockchain network and smart contract platform that’s striving to make digital asset ownership private, secure and accessible. The AUS-Sui Blockchain AcademyAccording to a press release published via regional news media outlet Zawya on Monday, the AUS-Sui Blockchain Academy is situated within the multidisciplinary Center of Entrepreneurship, Innovation and Sustainable Development, within the AUS. It’s been set out to align with the principles of entrepreneurship, innovation and sustainability with the objective of fostering responsible and impactful technological advancement relative to blockchain. The Academy aims to equip the next generation of leaders and innovators with the necessary knowledge to harness Web3 technology so as to address future global challenges. Dr. Greg Siourouni, Managing Director of the Sui Foundation, expressed enthusiasm for the blockchain education initiative, emphasizing its role in advancing Sharjah's goal of becoming a leading educational and research hub.Photo by Ainur Kamaev on UnsplashPrice surgeIn response to the announcement, SUI's token price has surged. While it’s up 4% over the course of the past 24 hours, the token is now standing at a record-high unit price of $1.79 since its launch in May 2023. The positive momentum in SUI's price underscores market enthusiasm for the layer-1 blockchain platform's educational initiatives. However, other in-roads being made by the project may also be playing a role. Last September the project launched zkLogin, a Web3 authentication solution that enables dApp users to login using social media accounts. The following month, the Sui Foundation announced a $50 million ecosystem fund in an effort to bolster growth relative to the Sui network. AUS and SUI blockchain education initiativesThis latest initiative is part of Sharjah's vision to position itself as a regional powerhouse for education and research, particularly in the realm of technology and blockchain. It’s not the first blockchain-centric collaboration that the university has engaged in. In June of last year, Dubai-headquartered crypto spot and derivatives trading platform Bybit partnered with AUS to establish a scholarship fund of $272,000. That endeavor is supporting fintech and blockchain studies for the benefit of 20 students. The Sui Foundation too has established a track record where educational initiatives are concerned. It has previously introduced several programs, including a Web3-focused curriculum at the Wheeler Institute for Business and Development at the London Business School. Additionally, it awarded $400,000 in Sui Academic Research Awards (SARAs) to 15 universities worldwide and introduced a Web3 curriculum for high school students. SUI's partnership with AUS to establish the AUS-Sui Blockchain Academy reflects its commitment to advancing education and innovation in the blockchain space, while its price surge is suggestive of market optimism for its future endeavors. 

South Korean blockchain solutions provider Seoul Labs has released SLUSH, an innovative launchpad built on its SASEUL blockchain designed to streamline and enhance the Web3 experience, according to a post on CoinMarketCap on Tuesday (KST).Photo by Shubham's Web3 on UnsplashPromoting sustainable ecosystem growthSeoul Labs explained that SLUSH is a solution to the setbacks of existing Web3 services and the difficulties that come with providing a comprehensive experience. As a hub within the SASEUL ecosystem, the launchpad allows users to access and manage a variety of services on a single platform. It will also serve as a medium for finding and supporting groundbreaking Web3 projects, offering safe and attractive investment opportunities in response to the current challenges posed by limited investment options and instabilities in digital asset trading. With a focus on long-term growth, SLUSH is designed to present users with tangible projects within the SASEUL ecosystem. Token sale successSLUSH is already off to a strong start, selling out one million SL tokens – Seoul Labs’ native token – in just 3 hours during its first pre-sale round on Jan. 16 and demonstrating investors’ interest in the service. The next round opened yesterday at an exchange rate of 1 SL to 0.1 USDT. Although the results have not been disclosed yet, if the second round also yields one million sold tokens, Seoul Labs will initiate a third. These pre-sales are expected to pave the way for onboarding various Web3 products and services onto the launchpad. The Seoul Labs team emphasized its commitment to funding blockchain projects, particularly dApps and Web3 projects, on SASEUL, thereby expediting their entry into the market. As the ecosystem’s growth accelerates, the team also plans to implement features like token swaps, NFTs and more.

Blockchain gaming platform Intella X has partnered with Galxe, a Web3 protocol that allows users to own, manage and share their digital credentials, according to an official announcement by Intella X’s operator Neowiz on Tuesday (KST). The two companies vowed to leverage Galxe's community network and expertise to create an Intella X channel on the Galxe platform, revitalizing the Intella X ecosystem.Photo by GuerrillaBuzz on Unsplash"Through this partnership, we look forward to exchanging our knowledge with Galxe and effectively growing the Intella X community, which will help revitalize the Intella X ecosystem and strengthen our global competitiveness," said Jose Ko, CEO of Intella X. Leading the way in Web3 communitiesWith over 14 million on-chain users, Galxe is a pioneer in Web3 community building. Its vast network supports 26 blockchains and various social networking websites, including X, Discord and more. In particular, the protocol also operates a rewards-based Loyalty Points system with over 3,300 partners, including Optimism, Polygon and Arbitrum, which distributes points rewards based on participation in project campaigns. "We will strive to leverage the Galxe community and introduce Web3 technology that serves to expand the Intella X ecosystem. Through our collaboration, we will bring innovations, developers and gamers to the Web3 market,” said Galxe CEO Charles Wayn. Revolutionizing blockchain gamingIntella X, which is built on the Polygon Network, is a Web3 gaming platform that emphasizes contribution and rewards. Services include a decentralized exchange (DEX), NFT marketplace and digital wallet, as well as a service protocol that rewards platform participants. In December last year, the platform also beta-launched a service last month dubbed Space Candy Store, an innovative platform service designed to reward gameplay.