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- Dana White has endorsed the VeChain network and its founder, Sunny Lu, as he claims to now own $1,000,000 worth of VET.
- Despite the high-profile support, VET has entered November facing some headwinds, failing to cross the $0.017 threshold.
Dana White, the public face and CEO of Ultimate Fighting Championship (UFC) and Power Slap, has doubled down on his support for VeChain (VET), praising its long-term vision and leadership in a recent interview.
During the conversation, White didn’t hold back on his confidence in the project, stating: “The only crypto I own is VeChain.”
When asked what he sees in VeChain CEO Sunny Lu, White explained that his investment was rooted in people, 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 Relationship
White’s endorsement comes on the heels of an expanding partnership between VeChain and Power Slap. In March, Power Slap inked a deal to bring VeChain branding into its rapidly growing network. The slap-fighting league has amassed more than 22 million followers across social platforms and generated a staggering 13 billion video views.
Under the partnership, VeChain branding now appears throughout Power Slap events, broadcasts, and digital content. In April, Dana White deepened his involvement by joining VeChain’s advisory board.
For context, the connection between VeChain and UFC actually dates back to 2022, and it strengthened again in 2024 with the launch of VeBetter, VeChain’s Web3-powered wellness ecosystem aimed at rewarding healthy lifestyle choices.
Later on, VeChain used the UFC 317 event in September to debut the “Build Your Body” decentralized application, which issues B3TR tokens to participants who stay active and meet fitness milestones.
Blockchain “Freeze” Features
While Dana White’s praise has brought positive attention to the network, a new report from Bybit’s Lazarus Security Lab has sparked debate.
The report, titled “Blockchain Freezing Exposed: Examining the Impact of Fund Freezing Ability in Blockchain,” reveals a surprising reality: 16 major blockchains have built-in mechanisms capable of freezing user funds instantly. Among the most notable networks, there is Vechain.
The report claims that VeChain first implemented such a feature in 2019, suggesting that wallets could potentially be frozen permanently. VeChain, however, responded firmly, stating that 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 was a one-time, community-approved action taken to mitigate the impact of a theft, not a built-in or ongoing protocol function.
With this controversy, VeChain’s derivatives market has seen an 18.82% increase, reaching $84.92 million in volume. VET’s open interest has dropped 7.99%, now sitting at $26.96 million.
Historically, November has been VeChain’s most favorable month. Even so, VET is 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, reflecting broader market weakness. Daily trading volume has also fallen sharply by 43% to $50.27 million.
Technically, VET is hovering just below the $0.017 resistance. A decisive drop below the $0.015 support could open the door to further downside toward $0.0147, while reclaiming resistance may help stabilize market sentiment.
