Sonic Cancels All Manual S Token Mints, Orders Independent Supply Audit
- —All manual S token mints cancelled; only automated validator emissions remain
- —Third-party audit covers S supply and related reporting; auditor not named
- —S fell from an all-time high of $1 in January 2025 to $0.02 by June 2026
- —Brandon Topham, ex-FSCA South Africa enforcement head, to lead finance and compliance
Why it matters: Sonic is trying to rebuild trust after a leadership shakeup and a 98% token decline; the audit's findings will shape the project's next steps.
Source: The Crypto Times