mysten

Kevin Boon, President of Mysten Labs, has succeeded Evan Cheng as the CEO of this Sui Layer 1 blockchain developer. Cheng will continue to serve as Chief Technology Officer and personally lead the newly established internal AI business unit. In an open letter released on October 16, Cheng stated that Boon has accepted the position and announced the news simultaneously on X. Boon previously served as Chief Legal Officer at Mysten Labs before being promoted to President. Cheng mentioned, "I planned for this day when I appointed him as President."The new AI department will have independent functions such as engineering and product development to reduce external dependencies, and will focus on trust proxy products and AI-native infrastructure, referencing the model of the on-chain financial business unit established by Mysten this summer. Cheng stated that this transition is intended to free up more time for him to focus on technical leadership while continuing to support the Sui and Walrus ecosystems, "This makes my scope of responsibilities more manageable."The goal of the AI business is to allow proxies to autonomously execute tasks within user-defined limits, with related products and services anchored to Sui and Walrus. Walrus is Mysten's decentralized storage protocol, which is set to launch its mainnet in March 2025. Cheng specifically mentioned the Verifiable Agent Arbiter developed in collaboration with Google Cloud, which was announced on October 6, aimed at allowing enterprises to prove that their AI agents operate within authorized boundaries. As designed, detailed proxy records are stored in the customer-controlled Google Cloud Storage, with cryptographic proofs stored on Walrus and coordinated on Sui, with initial enterprise deployment plans set to launch ahead of broader availability.

Mysten Labs reports that the Sui network has completed its first native post-quantum Devnet transaction. This Devnet implementation introduces the ML-DSA-65 account signature, allowing accounts to authorize transactions directly using this post-quantum signature scheme. ML-DSA-65 belongs to the ML-DSA series defined by the National Institute of Standards and Technology (NIST) FIPS 204 standard, and Sui uses it as the native protocol signature scheme for everyday accounts.Sui is also planning to introduce a hash-based SLH-DSA-SHA2-128s (FIPS 205) for high-value vaults in Move smart contracts. The two schemes are based on lattice-based and hash-based mathematical problems, respectively, so a weakness in one scheme will not affect the other. Since Sui keys are deterministically derived from seeds, users can migrate to post-quantum keys using existing mnemonic phrases; the already launched address aliases allow accounts to update authorization keys without transferring assets.Post-quantum accounts are being rolled out in an optional, incremental manner, following the online path of zkLogin and passkey. Sui states that the goal for the post-quantum vault is to go live on the mainnet within this year, with the native ML-DSA-65 accounts aiming to enter the testnet by the end of the year, and the mainnet native account authentication goal set for the first quarter of 2027, with the final timeline depending on independent audits and testnet feedback.

Anyflo, a stablecoin payment orchestration service for enterprises, announced its public launch on October 8, 2026, in Singapore during TOKEN2049 at the Sui Basecamp. The company was incubated internally by Mysten Labs, the original contributors to Sui, and its founder and CEO, Lola Oyelayo-Pearson, previously served as the product manager at Mysten and has also worked at Shopify and Capital One.Anyflo acquired Native through a talent acquisition. Before the acquisition, Native had raised just under $2 million and had launched a marketable Bitcoin lending platform on Sui, ranking in the top five among 630 projects at Sui Overflow 2025. Co-founder Robert Zaremba and his team will join Anyflo.Anyflo positions itself as an orchestration layer, providing multi-chain stablecoin access and handling the complexities related to blockchain networks, liquidity, and routing. The company plans to enter private alpha in October 2026, including a production preview and liquidity access, with a beta launch scheduled for the first quarter of 2027. In addition to incubation, Mysten Labs has also invested $1 million in the company.

The Sui development team co-founder of Mysten Labs, Kostas Kryptos, stated that Havenex is undergoing Series A financing and is about to complete it. All necessary license applications and some additional license applications have been submitted, and the financing amount is also close to being fully allocated.Havenex is not positioned to become another Coinbase, Binance, Bybit, or Kraken, but rather to provide infrastructure for financial institutions, enabling them to offer digital assets and traditional financial assets to clients while meeting regulatory, custody, security, and transparency requirements. Havenex plans to support a multi-chain architecture, verifiable custody, continuous solvency proof, default multi-signature, quantum-resistant keys, hardware two-factor authentication wallets, as well as self-custody and key loss protection mechanisms; in regions where regulations allow, it will also support privacy assets and RWA. The project will use Sui technology in suitable scenarios while integrating assets, bridging protocols, and foundational components from other ecosystems.The concept of Havenex was proposed by him, and he will currently participate as an advisor, but Mysten Labs and Sui remain his main focus. He stated that the project aims to establish transparency and security standards different from those of FTX and Mt. Gox, and to reduce the serious vulnerability risks caused by code generated by large language models recently.

Sui posted on platform X, stating that institutions will not choose to settle on infrastructure where competitors can see pricing and trading volume. The public amounts on most blockchains have been a barrier to actual commercial settlements.Mysten launched a new prototype that addresses the issue of amount privacy. This prototype is built on Seal MPC and confidential transfers.

Adeniyi Abiodun, co-founder and Chief Product Officer of Mysten Labs, posted on the X platform that confidential transactions will be launched on the Sui network this year, enabling large-scale, free, and privacy-protected payments.

Adeniyi Abiodun, co-founder of Mysten Labs, stated during Consensus 2026 that the Sui network has processed over $1 trillion in stablecoin transactions since last year and plans to launch zero-fee stablecoin transfers and privacy payment features.Abiodun expressed that Sui aims to become "the default network for future capital flows," noting that the current traditional cross-border payment systems have excessively high fees; for example, transferring $100 to Nigeria may incur a $35 fee. The future financial system should not be completely transparent like social media, and users need stronger privacy protection capabilities.Sui is developing a storage layer that supports the intent of crypto transactions to accommodate AI Agent-driven automated payments and future refund and fraud handling mechanisms. Additionally, Sui is currently testing quantum-resistant signature technology on its testnet, aiming to complete deployment before the EU's quantum security requirements are implemented by 2030.Abiodun also expressed willingness to coordinate with the Bitcoin ecosystem and open-source related research. However, Sui has recently faced challenges with technical stability, as its mainnet experienced several hours of downtime in January 2026. The current price of SUI is approximately $0.99, down about 81% from its historical high of $5.35 set in 2025.

ChainCatcher reported live that Adeniyi Abiodun, co-founder and Chief Product Officer of Mysten Labs, delivered a keynote speech at the 2026 Hong Kong Web3 Carnival. He stated that the core team members come from Facebook and were responsible for launching the global payment network Libra, aiming to make fund transfers as simple as sending messages. He announced that Sui will be the first high-speed public blockchain to achieve zero transaction fees for transfers across the network, regardless of the transfer amount ranging from $0.0005 to $1 billion, covering all stablecoins such as USDC, USDT, and Sui Dollar.In terms of privacy, Sui will provide bank-grade on-chain privacy, utilizing advanced cryptography to ensure that transaction history and balances are not visible to third parties, while fully compliant with regulatory requirements. Regarding yields, he introduced the Sui Dollar launched in collaboration with Stripe, which generates approximately 3.5% returns that will be directly reinvested into the network ecosystem and users, rather than flowing to intermediaries.He also announced the launch of the Bitcoin DeFi protocol Hashi aimed at institutions, allowing sovereign wealth funds, hedge funds, and ETF holders to deploy Bitcoin into DeFi for yields without triggering taxable events, supported by legal opinions from top U.S. law firm Fenwick & West. Additionally, Sui's on-chain deep order book DeepBook supports large transactions with extremely low slippage for instant on-chain exchanges between assets such as BTC, gold, USD, and EUR.In the AI agent economy, he pointed out that Stripe estimates a need for processing capacity of 1 billion transactions per second in the future, while Sui employs a horizontally scalable architecture similar to that of Google Search and Facebook infrastructure, capable of scaling on demand to millions or even tens of millions of TPS. The full-stack atomic composability provided by Sui is its core differentiated advantage, allowing agents to execute multiple cross-application transactions simultaneously and settle them in one go, which cannot be achieved on AWS, Google, or any existing Web3 platform. He also announced a partnership with RedotPay, enabling users to spend Sui Dollars at over 130 million merchants worldwide and positioning Sui as an alternative to SWIFT.

The CEO of Mysten Labs, evan.sui, stated in a recent interview that he does not agree with the notion of "bear markets are great, keep building." In fact, bear markets are not "great" and are not worth celebrating or boasting about. The volatility does not merely "cleanse the market," but can scare away builders and users, leading to a smaller talent pool and slower adoption processes. While bear markets may allow a few teams to focus more, packaging it as beneficial for everyone overlooks the real costs and can harm the long-term development of the crypto industry. During downturns, many people lose their savings, cash flow breaks down, and even some strong teams may not be able to survive, which genuinely harms many individuals.

ChainCatcher news, according to Cointelegraph, the U.S. SEC cryptocurrency working group met with the Sui development team Mysten Labs on September 9 to discuss solutions to issues related to the regulation of crypto assets.

ChainCatcher news, according to official information from Mysten Labs, the technical issue with the Walrus airdrop claim feature in the Sui wallet has been resolved. Users can now claim the airdrop normally.

ChainCatcher message, Mysten Labs stated that they have noticed some users encountering issues while claiming the Walrus airdrop using the Sui Wallet. The team is actively working to resolve the issue.

ChainCatcher news, Sui's parent company Mysten Labs announced the acquisition of the game development platform Parasol, with the specific acquisition amount not disclosed.Parasol is an end-to-end platform that enables game developers to integrate blockchain infrastructure into their games.

ChainCatcher news, according to The Block, the Sui ecosystem AI Agent content platform FanTV has completed a $3 million financing round, with participation from Mysten Labs, Cypher Capital, CoinSwitch Ventures, and Illuminati Capital.The project previously completed a $5.5 million financing round, with participation from Multicoin Capital, Woodstock Fund, Krafton, IOSG Ventures, Pravega Ventures, and Tykhe Block Ventures.According to the Web3 asset data platform RootData, FanTV is a Web3-based video + live social platform aimed at empowering creators by providing streaming, community, and monetization services, facilitating the transformation of the on-chain creator economy.

ChainCatcher news, according to The Block, Mysten Labs' Chief Legal Officer Kevin Boon will take on the role of President.It is reported that one of his biggest responsibilities will be to help lead Mysten Labs in launching the mainnet of the Walrus Protocol, which is expected to "soon" start in 2025.

ChainCatcher message, FTX creditor Sunil posted on platform X stating: "SUI has reached $5.2, with a market cap of $16 billion. FTX sold 890 million SUI (warrants) + equity to Mysten Labs for $96 million in March 2023, and these tokens are now worth about $4.6 billion."

ChainCatcher news, according to The Block, Evan Cheng, co-founder and CEO of Sui blockchain development company Mysten Labs, stated in an interview in May that the "ChatGPT moment" for cryptocurrency could arrive at any time. In a recent interview at the Mainnet conference, Cheng reiterated that the moment has not yet arrived, but it is still just around the corner. As for how Cheng plans to lead Sui to this breakthrough, he believes that by catering to "disruptive developers" and conducting extensive experiments, his blockchain has the most potential to achieve this breakthrough.One of the upcoming eye-catching experiments from Sui is the SuiPlay0X1 handheld gaming device, which is now available for pre-order and is scheduled to launch in 2025. While some may view the device as a hardware play, similar to Solana's Web3 phone, Cheng sees the device as a software product rather than a hardware product.Cheng said, "This is a gaming device that can play all Windows games. It is better than other devices in terms of deep software integration and operating system integration. Even for existing Web3 gamers, it is a superior product due to the advantages of the software. Hardware is almost like a commodity, while the software experience is where the magic lies and is the key to success."Market data shows that SUI briefly reached $2.2485, setting a new all-time high.

ChainCatcher news, Adeniyi Abiodun, one of the co-founders of Mysten Labs, stated in an interview with Cointelegraph that research has been completed on using radio waves to provide offline encrypted transactions, allowing the Sui blockchain to transmit transactions using only underwater waves and long-distance radio, and even compress transactions into smaller text messages.Abiodun mentioned that Sui has tested this method and it "has been effective." The current task is to integrate it into IoT devices, which could also benefit decentralized physical infrastructure (DePIN) projects. Sui is collaborating with Canadian mobile service provider Chip Wireless to test its ideas and is considering expanding to target markets such as Africa.

ChainCatcher news, according to Venturebeat, the gaming startup Playtron has partnered with Mysten Labs to launch the handheld gaming device SuiPlay0x1, which is now available for pre-order until all available slots are sold out. The device is priced at $600 each (including shipping and taxes) and can be purchased using SUI, ETH, and SOL tokens.The first thousand customers who pre-order the SuiPlay device will receive a non-transferable soulbound NFT, which will provide special access, rewards, and benefits. Delivery of the pre-ordered devices will begin in 2025.