Press Release
Sui News: Cumberland, Fluid, and SwissBorg Join Institutional Coalition on Hashi Ahead of July Global Testnet
Grand Cayman, Cayman Islands, June 23rd, 2026, Chainwire
Sui aims to transition more of Bitcoin’s $1.2T market cap into verifiable, productive onchain products.
Hashi, Sui’s native bitcoin finance primitive, gains more institutional support ahead of the scheduled launch of its global testnet this July.
Sui, where money moves as freely as messages, announced today that Cumberland, Fluid, and SwissBorg have joined the Hashi ecosystem, Sui’s native bitcoin finance primitive, weeks ahead of its scheduled global testnet launch this July. The expanding coalition addresses a critical bottleneck in crypto: solving the persistent capital inefficiency by unlocking over a trillion dollars of immobile BTC into DeFi safely.
Previous market cycles demonstrated the systemic dangers of relying on opaque, centralized credit intermediaries such as Celsius, Voyager, and Genesis to generate utility from dormant assets. Hashi replaces centralized balance-sheet trust with verifiable smart contract logic.
But with a strict separation for safety by design, Bitcoin remains securely on the native Bitcoin blockchain. Sui smart contracts handle the cryptographic and programmatic rights to enable its use as financial collateral.
“Hashi was built to unlock the productive use of Bitcoin at a scale the industry hasn’t seen before,” Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, the original contributor to Sui. “We believe Bitcoin will become one of the largest sources of collateral in finance as the world moves onchain, and Hashi provides the foundation to make that possible on Sui.”
Built for Institutional Bitcoin Finance
Hashi is a foundational primitive setting a new standard for how builders can create bespoke, Bitcoin-backed financial products with risk parameters and loan terms that are fully verifiable onchain. In just a few weeks’ time, institutions, custodians, wallet providers, and developers can begin freely testing the infrastructure that will support Bitcoin-backed lending, borrowing, and credit origination on Sui.
Expanded Institutional Support
Three new powerhouses join the growing Hashi ecosystem, broadening support for institutional liquidity providers, market makers, and digital asset platforms:
- Cumberland: One of the digital asset industry’s largest institutional market makers, Cumberland joins the Hashi ecosystem to evaluate the protocol’s structural frameworks and prepare for eventual onchain liquidity provisioning.
- SwissBorg: A European wealth management app with over one million users, is exploring opportunities to connect its network of European high-net-worth Bitcoin holders and liquidity providers to Hashi, creating new pathways for Bitcoin-backed borrowing and lending.
- Fluid: A major DeFi lending protocol with a strong record of efficient, safe trades, is now building in preparation for mainnet institutional services. Fluid’s participation would provide institutional-grade lending markets and deepen access to Bitcoin-backed credit on Sui.
These new builders join an industry-leading group of infrastructure providers, custodians, and DeFi protocols already working together to build a native Bitcoin financial ecosystem on Sui.
“Bitcoin is the world’s most liquid digital asset, but without native utility, it remains an off-chain asset,” said Paul Kremsky, Global Head of Business Development at Cumberland. “Hashi is exciting because it introduces a transparent, institutional-grade framework for BTC-backed credit that will replace synthetic workarounds with a product we are excited to use ourselves.”
“Our community has consistently sought native ways to lend and borrow against their Bitcoin,” said Cyrus Fazel, Founder & CEO at SwissBorg. “We’re thrilled to see Hashi delivering innovative solutions that make this a reality.”
“The next phase of the industry’s growth will come from bringing larger pools of capital onchain through infrastructure institutions can actually trust,” said Samyak Jain, Co-Founder & CEO at Fluid. “Hashi gets this right: Bitcoin stays on its native chain while verifiable contracts make it productive as collateral. Fluid’s lending infrastructure is built to turn that into deep, capital-efficient Bitcoin-backed credit markets on Sui.”
These additions expand the growing consensus of many partners announced earlier this year that Sui is where Bitcoin finance will take flight, thanks to Hashi:
Custody & Wallet Access
- BitGo: Institutional custody clients.
- Blockdaemon, Cobo, Fordefi (by Paxos): Institutional wallet and infrastructure providers.
- Cubist: Cross-chain collateral infrastructure and transfer engine.
- Ledger: Retail/institutional self-custody.
- SwissBorg: UHNW European retail/institutional asset management and wallet interface.
Lending, Trading & Liquidity Providers
- Bullish: Institutional digital asset platform supplying liquidity.
- Cumberland: Leading institutional crypto market maker and liquidity provider.
- Erebor: OCC-chartered bank providing liquidity.
- FalconX: Institutional prime brokerage supplying liquidity.
DeFi & Lending Applications
- AlphaLend, Bluefin, Current, Scallop, Suilend: Native DeFi protocols enabling retail lending and borrowing on day one.
- Fluid: Connecting lending, borrowing, liquidity and more financial products into a capital-efficient system.
- Navi: One of Sui’s largest and longest running DeFi protocols slated for Hashi lending.
Vaults & Asset Management
- Concrete by Blueprint Finance: Yield-infrastructure vault platform.
- Inveniam Capital: Real-World Asset (RWA) yield strategies.
- Wave Digital Assets LLC: SEC-registered investment adviser working with industry partners to facilitate the issuance of Bitcoin-collateralized bonds.
Index Oracle, Insurance & Security Auditing
- CF Benchmarks: Crypto index provider distributing pricing data via oracles.
- Soter Insure: Native, Bitcoin-denominated institutional insurance.
- Asymptotic, Certora, OtterSec: Smart contract security and formal verification auditors.
The activation of the global testnet this July represents the ultimate rehearsal for fully changing Bitcoin Finance. This sandbox environment is designed for institutional engineers, Sui protocols and developers, and custody partners to test integration parameters, stress-test the code under simulated market volatility, and verify cryptographic integrity ahead of mainnet release.
Technical documentation and testnet access configurations will be hosted at https://www.sui.io/hashi.
About Sui
Sui, where money moves as freely as messages, is a next-generation Layer 1 blockchain built for scalable finance and global payments. Founded by the core team behind Meta’s stablecoin initiative and powered by an object-centric model, Sui makes assets, permissions, and user data programmable and ownable. Sui’s primitives offer builders everything they need to create high-performance payments and financial applications, including instant agentic payments. Users can learn more at sui.io.
Contact: media@sui.io
Contact
Sui Foundation
media@sui.io
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Brian Baldari on the Difference Between a Mentor and a Sponsor, and Why It Decides Promotions
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ResilExec® Coaching founder Brian Baldari, Pharm.D., MBA, on why senior leaders who have plenty of advice and no advocacy stall at the same level for years.
BRICK, N.J., Oct 03, 2026, ZEX PR WIRE — Most senior professionals have someone they go to for advice. Far fewer have someone who argues for them in a room they are not in. According to Brian Baldari, Pharm.D., MBA, founder of ResilExec® Coaching, that distinction accounts for a large share of stalled advancement among otherwise strong performers.
Baldari spent 24 years inside pharmaceutical, healthcare, and enterprise leadership organizations. He held five successive Director-level roles, moved from Director to Vice President and Senior General Manager in 18 months, and led the commercial launch of 14 brands. He now works with Associate Directors, Directors, Senior Directors, Executive Directors, and Vice Presidents inside pharmaceutical, healthcare, and enterprise IT organizations.
“A mentor talks to you. A sponsor talks about you,” Baldari says. “One of those changes your calendar. The other changes your title.”
Advice Is Not Advocacy
Mentorship is widely available and widely encouraged. Many organizations run formal programs for it. A mentor offers perspective, context, and guidance, and that guidance has real value early in a career when the primary gap is knowledge.
Sponsorship operates differently. A sponsor spends their own credibility on someone else. They put a name forward on a succession slate, defend a candidate during calibration, and accept the consequences if the bet does not pay off. That is a materially different act, and it is not something an organization can mandate.
“Leaders collect mentors because mentors are easy to ask for,” Baldari says. “Nobody feels awkward requesting advice. Asking someone to spend their reputation on you is a different conversation, and most people never have it.”
Where the Gap Shows Up
The gap becomes visible at the point where advancement decisions are made collectively. Calibration sessions and succession discussions involve people across multiple functions, many of whom have no direct experience of a given candidate’s work. In those rooms, a candidate is represented by whoever chooses to speak.
“If nobody in that room can describe what you do at enterprise scale, you are not in the conversation, regardless of your review,” Baldari says. “The decision is not made on the strength of your record. It is made on the strength of the description someone else gives of it.”
Baldari notes that this is where strong performers are most often surprised. Their performance ratings are high, their manager is supportive, and the outcome still does not change, because the people who influenced the decision were never engaged.
Sponsorship as a Variable
Sponsorship is one of five variables in Baldari’s Promotion Math
framework, alongside Performance, Visibility, Narrative, and Timing. In his assessment, strong performers optimize the first variable and leave the remaining four unattended, then attribute the result to politics.
“Performance gets you noticed. Positioning gets you promoted,” Baldari says. “Sponsorship is the variable people find hardest to work on, because it requires asking for something rather than producing something.”
What Changes the Outcome
Baldari advises leaders to identify the specific individuals who will participate in the decisions that affect them, then assess honestly whether those individuals could describe their contribution without prompting. In most cases the answer is no, and that is the actionable finding.
From there the work is practical rather than social. It involves delivering value to those individuals rather than checking in with them, framing results at enterprise level rather than functional level, and showing up in forums where that work is visible to people beyond a direct reporting line.
“You do not recruit a sponsor by asking them to be one,” Baldari says. “You give them something worth putting their name next to, and you make sure they understand what it was.”
About Brian Baldari
Brian Baldari, Pharm.D., MBA, based in Brick, New Jersey, is the founder of ResilExec® Coaching and Resilient Performance Group LLC. He spent 24 years inside pharmaceutical, healthcare, and enterprise leadership organizations, held five successive Director-level roles, and advanced from Director to Vice President and Senior General Manager in 18 months. He led the commercial launch of 14 brands across rare and chronic disease categories, led an organization of more than 250 people, and has mentored more than 50 leaders across three continents. Through ResilExec Coaching, he helps Associate Directors, Directors, Senior Directors, Executive Directors, and Vice Presidents accelerate career growth through personalized executive coaching, leadership development, and strategic career positioning.
Media Contact
Resilient Performance Group LLC
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Timothy Caraboolad Publishes a Buyer’s Checklist for New-Build Condos in South Florida
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Real estate developer Timothy Caraboolad is releasing a set of questions first-time buyers should ask before putting money down on a new-build apartment in South Florida.
A market full of new buildings, and a lot of first-time buyers
Florida, USA, Oct 03, 2026, ZEX PR WIRE — South Florida has no shortage of new construction. Buildings go up fast, sales offices open before the concrete cures, and renderings promise more than any buyer can verify in a single walkthrough.
Timothy Caraboolad, a real estate developer and designer based in Palm Beach, Florida, has spent years on the other side of that process, building high-end custom homes through his firm Lad Design. He says the buyers who end up happiest are the ones who ask harder questions earlier, not the ones who fall for the best rendering.
“A sales gallery is designed to sell you a feeling,” he says. “Your job as a buyer is to slow that down and ask what you’re actually getting for the price.”
What to check before signing anything
Caraboolad points first-time buyers toward a few areas that matter more than finishes.
Construction quality behind the walls. Countertops and cabinetry are easy to judge. What is inside the walls is not. Caraboolad suggests asking who the general contractor is, how long they have built in the area, and whether the building uses concrete or wood-frame construction, since that affects sound, insurance, and long-term durability in a hurricane-prone region.
HOA fees and what they actually cover. New buildings often advertise low fees at launch that rise once amenities open and reserves get funded. “Ask for the projected budget once the building is fully occupied, not just the introductory number,” Caraboolad says. He recommends buyers ask specifically what percentage of the fee goes into reserves, since that determines whether the building can pay for a roof or a seawall repair without a special assessment.
Storm readiness. In South Florida, this is not optional. Buyers should ask about impact windows, generator backup for elevators and common areas, and flood elevation. Caraboolad says a building’s flood zone designation should be requested in writing, not estimated by a sales agent.
Parking and storage, spelled out. Some buildings sell parking as a deeded asset. Others assign it and can reassign it later. Caraboolad says this distinction matters more than most buyers realize until after closing.
Developer track record. A new building has no resale history to check. Caraboolad suggests buyers look at other projects the same developer has completed, not just renderings of the one being sold, and ask how those buildings have held up.
Timing the purchase
For pre-construction units, Caraboolad says the biggest risk is not price, it is timeline. Delays are common, and buyers should understand what happens to their deposit if the closing date slips.
“Get the outside date for completion in writing,” he says. “And ask what your options are if that date passes.”
He also encourages buyers to walk a finished unit in the same building, or a comparable one from the same developer, before relying on a model unit that may use upgraded finishes not included in the base price.
Why this matters for first-time buyers specifically
Caraboolad says first-time buyers face a particular disadvantage: they often do not know which questions are normal to ask, so they accept vague answers.
“An experienced buyer will push back on a soft answer about HOA reserves or insurance history,” he says. “A first-time buyer might just assume that’s how it works. It isn’t. You’re allowed to ask for documentation before you commit.”
His broader point is that a new building can be a strong investment in South Florida, but only when the buyer treats the sales process the same way a developer would: checking budgets, checking materials, and checking the people building it, before checking the view.
About Timothy Caraboolad
Timothy Caraboolad is an entrepreneur, real estate developer, and designer based in Palm Beach, Florida. He is the founder of Lad Design, a South Florida firm building high-end custom homes, and previously founded Arc Design, a luxury residential development and design firm in the Boston area. He holds a Bachelor’s Degree in International Business from Rollins College.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Jermaine Gassaway: A checklist for parents choosing school leadership
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Jermaine Gassaway, a superintendent and public education advocate, outlines what parents should look for in school and district leaders before enrolling their children.
Why leadership is the first thing to check
North Carolina, USA, Oct 03, 2026, ZEX PR WIRE — Parents often start a school search by looking at test scores or building tours. Jermaine Gassaway says that misses the bigger question: who is running the school, and how do they lead.
“A building can look great and still have weak instruction,” Gassaway says. “The leader sets the tone for everything else. If you skip that part of the search, you’re missing the most important piece.”
Gassaway has worked as a teacher, a principal, and a superintendent. That range gives him a view of leadership from more than one seat, and he says the questions parents ask should change depending on what they can actually observe.
What to ask before you tour the building
Gassaway suggests parents start with a short list of questions for any principal or superintendent they meet.
How do you measure growth, not just scores. A single test score tells a parent almost nothing about whether their child is improving. Gassaway says leaders who can talk about growth over time, not just a snapshot, are paying attention to the right thing.
How often are you in classrooms. A principal’s visibility in classrooms is a signal of how closely they track teaching day to day. Gassaway says parents should ask directly how often the leader observes instruction and gives feedback to teachers.
What happens when a student falls behind. Every school has students who struggle. Gassaway says the real question is whether there is a clear plan, with specific support, for those students, or whether it is left to chance.
How do you support new teachers. Turnover affects children directly. Gassaway says parents should ask how new teachers are coached in their first year, since that shapes whether a child gets a stable classroom experience.
Red flags parents should not ignore
Gassaway points to a few signs that should raise questions, even if the rest of a school visit goes well.
A leader who cannot describe how they use data. If a principal talks only in generalities about student progress, Gassaway says that is worth a follow-up question.
A staff that seems unsettled or unclear on expectations. Gassaway says parents can pick up on this just from talking to teachers or reading how a school communicates with families.
No clear answer on discipline or support plans. Parents should expect a straight answer on how the school handles behavior and academic struggles, not a vague reassurance.
What good leadership sounds like
Gassaway says strong school leaders tend to talk in specifics. They can describe how a reading program works, not just that the school “cares about literacy.” They know their staff by name and can speak to strengths and gaps on their team. They treat parent questions as normal, not as a challenge to be managed.
“You can tell a lot from how a leader answers a hard question,” Gassaway says. “Do they get defensive, or do they give you a real answer. That tells you how they’ll treat you once your child is enrolled.”
A short list parents can bring to a school visit
Gassaway recommends parents keep it simple: three or four questions, asked directly, with room to follow up.
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How do you track whether students are growing, not just passing.
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How often are you in classrooms, and what do you look for.
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What is your plan when a student is behind grade level.
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How do you support teachers who are new to the school.
He says the answers matter less for their polish and more for their specificity. “A leader who knows their school will have real answers,” Gassaway says. “A leader who doesn’t will talk around it.”
About Jermaine Gassaway
Jermaine Gassaway is a superintendent based in Charlotte, North Carolina. He is a former teacher and school principal, and the author of “Unopened Books: Multiplying the 2%” and “When You Arrive: A Children’s Book About Racism.” He is a graduate of Johnson C. Smith University and has worked in public education for more than a decade.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
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