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Future Of Bitcoin and Ether Endangered By The SEC’s Recent Actions, Mati Greenspan Warns

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Future Of Bitcoin and Ether Endangered By The SEC's Recent Actions, Mati Greenspan Warns

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Founder of Quantum Economics—money management and advisory firm—Mati Greenspan has publicly warned that the future of all cryptocurrencies could be in jeopardy should the Securities and Exchange Commission (SEC) succeed in its legal proceedings against decentralized file-sharing platform LBRY Inc.

The SEC late last month took legal actions against LBRY Inc., alleging that the platform failed to register the LBRY Credit Tokens—which the commission classifies as securities—before offering and selling millions worth of the asset across multiple platforms between 2016 and 2020.

The commission seeks the disgorgement of all “ill-gotten” gains from the sales and a judicial order preventing LBRY from selling more LBC among other demands.

LBRY has disputed the claims by the commission, noting that the LBC is not a security as alleged.

Mati Greenspan, in a newsletter (“Don’t let them kill crypto”), pointed out the unfavorable implications it might have on all cryptocurrencies should the court take a decision in favor of the commission. He mentioned, “should the court side against LBRY, it would literally put the future of all cryptocurrencies, including bitcoin and ether, in question.”

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He noted that since judges generally take their guidance from past verdicts in identical cases, “a negative ruling here could make it easier for them to kill off any project which utilizes crypto tokens.”

“There has been no fraud here. Nobody has complained. So who is the administration really trying to protect?” Greenspan asked, further stating, “the project’s only crime was to set up shop in the United States.”

The licensed EU portfolio manager believes that the United States is “behind on crypto regulation”, noting that these aggressive litigations by the SEC would not impede the global growth of cryptocurrencies, but are only capable of limiting the options of U.S. citizens as regards crypto adoption.

He claims, “even LBRY will move forward, regardless of the outcome of this case” apparently because “in many countries, innovators like LBRY are free to thrive, even if they do need to take special care not to accept U.S. users.”

LBRY has so far contested the claim by the SEC, stating, “we do not believe that the LBRY Credit is a security subject to SEC regulation.”

In a section of the newsletter titled “What can I do”, Greenspan urged readers to write to their Congressmen about the issue; further stating that anyone who finds the primary step too “cumbersome” to carry out can visit helplbrysavecrypto.com for more enlightenment on the subject and also sign a petition on change.org titled “Cryptocurrency is NOT a crime.”

This is not the first time the commission is charging a platform for “conducting unregistered securities offering” as it filed an action against Ripple Labs and two of its executives late last year, alleging that they “raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.”



DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/future-of-bitcoin-and-ether-endangered-by-the-secs-recent-actions-mati-greenspan-warns/

Blockchain

Unlike Dogecoin, Catecoin Gives a New Meaning to Meme Coins with Real Use case

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In the present-day connected world, memes have become an integral part of our pop culture. While one can’t put a monetary value on the entertainment they provide, its creators can definitely be encouraged and rewarded for their contribution towards a lively internet.

Catecoin, the first decentralized meme-based token is trying to do just by incentivizing content creators as well as consumers. The project is the first of its kind to implement DeFi features in the content space. Fueled by the CATE token, the project offers a platform for user-generated content, quite similar to 9GAG but on a blockchain, along with content farming and staking features.

How does it work?

Using the Catecoin ecosystem is as simple as using any social network platform. Content creators can submit their creations to the Catecoin Meme Platform and once published they will start earning CATE rewards as the community likes or comments on that content. Even platform users who interact with the posts will receive rewards for their comments and likes.

Meanwhile, the posts are evaluated based on the received reactions. Any post with 500 or more likes from the community will become eligible for a transformation into an NFT and get listed on the NFT market. Catecoin refers to this entire process as Content Farming and has set aside 35% of CATE supply for this alone.

Using CATE

CATE is the utility token of the Binance Smart Chain-based Catecoin project. Apart from value exchange, these tokens also control the accessibility of the platform. Users should hold a minimum of 10,000 CATE to interact with any posts on the platform. Similarly, content creators will have to maintain a balance of 100,000 CATE to be able to submit their works to the platform.

While each like or comment will result in both content creators and consumers receiving 0.1 CATE each, the community can also earn additional returns by just holding the tokens. The platform shares one percent of each transaction made on the network with CATE holders, and at the same time burns the same amount to regulate supply.

Once a meme gets converted to NFT and lists on the NFT market, anyone can purchase it and start receiving any rewards the asset may generate in the future.

Get some CATE, it is simple

In just a few simple steps, one can become part of the Catecoin community early on. CATE is listed on PancakeSwap and users can acquire the tokens against BNB payment. Buying CATE will require users to download and set up Trust Wallet and MetaMask accounts and hold some BNB in their wallets. They can then visit PancakeSwap, make payment in BNB to the Catecoin token 0x118f073796821da3e9901061b05c0b36377b877e and receive the tokens in their connected wallet.

What Makes CATE Different?

The flood of meme coins into the crypto market started long ago, and Dogecoin is the prime example. Many of these coins have a virtually unlimited supply and no real use cases. On the other hand, CATE has a definite supply of 100 trillion and a deflationary mechanism that reduces the supply by 0.5%-1% per transaction while providing a real-world use case – encouraging meme creators to monetize their content. The model adopted by Catecoin makes it the most sustainable meme project out there.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/news/company/unlike-dogecoin-catecoin-gives-a-new-meaning-to-meme-coins-with-real-use-case/

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Blockchain

Developed by Traders for Traders, QoinIQ Platform Opens IEO on ProBit Exchange

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Developed by Traders for Traders, QoinIQ Platform Opens IEO on ProBit Exchange

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QIQ, the utility token for the QoinSuit ecosystem, officially launched IEO May 17, 2021, on ProBit exchange. QoinIQ offers an unmatched trading experience with their QoinSuit application, augmenting trading processes and alleviating user risk.

QoinSuit elevates the typical trading experience with a broad overview of markets, extended conditional order functionality, and decentralized order management.

QoinIQ’s unique value proposition lies with its functionalities that address key market demands starting with an attractive, fully customizable trading layout optimized for multi-screen displays. Traders leveraging the newly developed trading display can operate in numerous cryptocurrencies simultaneously, bolstering data visibility in a field where seconds are money. QoinIQ’s “playground” offers an avenue for new users to acclimate to both QoinSuit’s trading interface and cryptocurrency trading as a whole, at no risk to the user.

QoinIQ will roll out new features on an ongoing basis to meet user wants and industry trends. First in the pipe during the 2nd cycle are “function-specific technical support” additions and “opinion crowdsourcing” capabilities. In addition to these upgrades, QoinIQ will launch numerous chart and display evolutions, enhanced chart trading functionality for technical analysis patterns, and a community forum and “follow top traders” list to build a stronger community.

QoinIQ utility tokens (QIQ) enable users to access QoinSuit and its services based on membership levels determined by total token commitment and lockup period length. Users can receive higher fee discounts if they subscribe to extended subscription periods. QoinIQ employs a conservative asset allocation, with less than 3% of total QIQ given to administrators and 39% invested into development and overhead costs.

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Founded by a team with decades of experience in the financial markets, including cryptocurrency trading and arbitrage, QoinIQ is striving to set a precedent. Their frictionless trading experience and their commitment to adapt their platform and services to changing market conditions paint them in a favourable light for future proliferation.

ABOUT PROBIT EXCHANGE

ProBit Exchange is a Top 20 crypto exchange globally. We have completed over 200 rounds of IEO and have been consistently ranked Top 4 in Korea. ProBit Exchange provides unlimited trading access highlighted by over 1,000 trading pairs.

ABOUT QIQ TOKEN

QIQ is the utility token for the QoinIQ ecosystem and currently serves numerous uses in their QoinSuit trading application. 60% of the total token pool will be sold during the token generating event, while QoinIQ will invest the remaining 40% in future developments. CoinIQ may burn 5% of the free float of tokens depending upon the development track of QoinSuit.
https://www.qoiniq.com/

PROBIT EXCHANGE’S GLOBAL BRAND TRUSTED BY MILLIONS OF USERS 

100,000+ community members

1,000,000+ monthly active users

3,000,000 monthly web visitors

50,000,000 users on partnering aggregators and wallets such as CoinMarketCap

User interface of Multilingual website supporting 41 different languages

Marketing and community support in 8 key languages

Why Get PROB this May?

  1. Instant event access to ProBit Exclusive Manic NFT MAYhem!
  2. Join ProBit Cup with 20,000 USDT in prizes!
  3. Move up to at least VIP 2 and get bonus PROB tokens.
  4. Receive free Netflix subscription in USDT just by moving to VIP 3 or above.
  5. Be eligible for Trading Competitions just by staking PROB.
  6. Get higher IEO bonuses with PROB purchases.
  7. Lower trading fees to 0.03% by paying with PROB.
  8. Stake PROB and earn PROB at a rate of 4% per annum.
  9. Earn 10-30% of trading fees by referring friends to ProBit.
  10. PROB Reserves improve the ProBit Exchange ecosystem and provide maximum value for PROB holders.

ProBit Global: www.probit.com

ProBit Korea: www.probit.kr

ProBit Telegram: https://t.me/ProbitEnglish

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/developed-by-traders-for-traders-qoiniq-platform-opens-ieo-on-probit-exchange/

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Blockchain

WSB DApp Powered by ETP Ramps up Wall Street Decentralization with ProBit Exchange Listing

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WSB DApp Powered by ETP Ramps up Wall Street Decentralization with ProBit Exchange Listing

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WSB DApp is a community-owned decentralized version of r/wallstreetbets, the group behind the highly publicized short squeeze of stocks including Gamestop that were being massively shorted by hedge funds. The governance token WSB boasts utility well beyond the norm and recently was listed on ProBit Exchange.

As part of the underlying corporate vision, the platform also includes the WSB DAO which specifically encourages the free flow of information and offers an alternative to centralized financial institutions.

Centralized asset custodians derive substantial revenue from financial product sales such as bonds and derivatives while firms that create financial products have full autonomy over key features including fee structures and governance details at the product’s conception. 

Utilizing blockchain technology, the WSB DApp democratizes this currently centralized oversight with the Wall Street Bets ETP (Exchanged Traded Portfolio), which mimics the function of traditional financial instrument providers offering decentralized index-fund type instruments. Assets within this portfolio are not confined to trading windows and are borderless, self-custodial, liquid, fungible, and instantly redeemable.

Governance capabilities for WSB holders are diverse and include ETP rebalancing polls, ETP concept pitches, rebalancing frequency votes, and critical industry integration decisions. All ETP products will contain a 2% per annum management fee and WSB token holders will vote to determine the function of these accumulated fees.

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WSB DApp brings elevated product diversity and growth potential to a now $100B DeFi sector. With crypto-finance apps and asset management tools at the forefront of the crypto space, WSB DApp has ambitious growth potential and aspirations to support burgeoning projects and the WSB ecosystem through strategic partnerships.

ABOUT PROBIT GLOBAL

ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 600+ altcoins in 1000+ markets.

Why Get PROB this May?

  1. Instant event access to ProBit Exclusive Manic NFT MAYhem!
  2. Join ProBit Cup with 20,000 USDT in prizes!
  3. Move up to at least VIP 2 and get bonus PROB tokens.
  4. Receive free Netflix subscription in USDT just by moving to VIP 3 or above.
  5. Be eligible for Trading Competitions just by staking PROB.
  6. Get higher IEO bonuses with PROB purchases.
  7. Lower trading fees to 0.03% by paying with PROB.
  8. Stake PROB and earn PROB at a rate of 4% per annum.
  9. Earn 10-30% of trading fees by referring friends to ProBit.
  10. PROB Reserves improve the ProBit Global ecosystem and provide maximum value for PROB holders.

PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS 

100,000+ community members
800,000+ monthly active users

3,000,000 monthly web visitors

50,000,000 users on partnering aggregators and wallets such as CoinMarketCap

User interface of Multilingual website supporting 41 different languages

Marketing and community support in 8 key languages

Join our active programs and get huge benefits!

1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee

2. Stake Mining: Stake PROB and earn PROB at a rate of 4% per annum 

3. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit

4. ProBit Exclusive: Subscribe to 50% off Top 200 tokens 

5. Auto Hold Campaigns: Hold tokens and get 6% annualized returns

ProBit Global: www.probit.com

ProBit Telegram: https://t.me/ProbitEnglish

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/wsb-dapp-powered-by-etp-ramps-up-wall-street-decentralization-with-probit-exchange-listing/

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