**Dana White Endorses VeChain and Founder Sunny Lu, Investing $1 Million in VET**
Dana White, the public face and CEO of the Ultimate Fighting Championship (UFC) and Power Slap, has publicly endorsed the VeChain network and its founder, Sunny Lu. In a recent interview, White revealed that he now owns nearly $1,000,000 worth of VeChain tokens (VET), emphasizing his confidence in the project’s long-term vision and leadership.
### Dana White’s Confidence in VeChain and Sunny Lu
White made his position clear during the conversation, stating, “The only crypto I own is VeChain.” When asked what attracted him to Sunny Lu, White explained that his investment was deeply rooted in trust and shared values:
> “I bet on people. I like Sunny and what he’s all about and what he’s building. I like the way he thinks, and he and I are aligned on a lot of the sustainability initiatives he’s working on. Not only have I decided to do business with him, but I’ve also invested. I actually bought almost $1,000,000 worth of VeChain. I own almost a million dollars’ worth of VeChain right now.”
### Power Slap and VeChain’s Growing Partnership
White’s endorsement coincides with an expanding partnership between VeChain and Power Slap, the slap-fighting league gaining popularity across social platforms. In March, Power Slap signed a deal to integrate VeChain branding into its rapidly growing network, which boasts over 22 million followers and 13 billion video views.
Under this partnership, VeChain branding now features prominently across Power Slap events, broadcasts, and digital content. Further cementing the collaboration, Dana White joined VeChain’s advisory board in April.
The relationship between VeChain and UFC dates back to 2022 and has strengthened in 2024 with initiatives like VeBetter, VeChain’s Web3-powered wellness ecosystem that rewards healthy lifestyle choices. At UFC 317 in September, VeChain debuted the “Build Your Body” decentralized application, which issues B3TR tokens to users who stay active and reach fitness milestones.
### Controversy Over Blockchain “Freeze” Features
While Dana White’s support has brought positive attention to VeChain, a recent report from Bybit’s Lazarus Security Lab has sparked debate within the community. The report, titled *“Blockchain Freezing Exposed: Examining the Impact of Fund Freezing Ability in Blockchain,”* reveals that 16 major blockchains, including VeChain, have mechanisms capable of instantaneously freezing user funds.
According to the report, VeChain first implemented such a feature in 2019, implying that wallets could potentially be frozen indefinitely. However, VeChain responded decisively, stating it “does not and has never operated a ‘hidden’ fund freezing feature on its protocol.” The team clarified that the 2019 case referenced by Bybit involved a one-time, community-approved action aimed at mitigating the impact of a theft — not a built-in or ongoing protocol function.
### Market Impact and Technical Outlook for VET
Following the report and ongoing developments, VeChain’s derivatives market has seen an 18.82% increase in volume, reaching $84.92 million. However, VET’s open interest has declined by 7.99%, now at $26.96 million.
Historically, November has been VeChain’s most favorable month. Yet, as the month begins, VET faces headwinds, trading at $0.01683 — down 2.18% on the day and 17% over the past month. The token remains 94.46% below its all-time high amid broader market weakness. Daily trading volume has also dropped sharply by 43% to $50.27 million.
Technically, VET is struggling to break past the $0.017 resistance level. A decisive drop below the critical $0.015 support could open the door to further declines towards $0.0147. Conversely, reclaiming resistance levels may help stabilize market sentiment moving forward.
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