The Securities and Exchange Commission (SEC) has caused shockwaves in the cryptocurrency sector by going after Binance and Coinbase, two of the biggest names in the industry. Amid all this smoke, DigiToads, a new memecoin on the market is pushing on with its presale and getting close to eclipsing the $5 million mark.
The cryptocurrency sector has been through historical highs and moments of peak anxiety and fear. This lawsuit is significant, but it comes to a sector that has become more accustomed to regulatory challenges.
SEC lawsuit against Coinbase
On Tuesday, 6th June 2023, the SEC filed a lawsuit against Coinbase Inc. for alleged illegal operations in the US. The agency sued the mega exchange in the Manhattan Federal Court for operating without registering as an exchange. Ironically, Coinbase has been the most compliant among major exchanges and has operated in the American market since 2012.
SEC Chair Gary Gensler has taken the tough stance despite a history of some positive comments on digital currencies. His predecessor, Jay Clayton, famously took action against Ripple (XRP) for alleged securities violations. The Coinbase lawsuit came one day after the agency filed a similar suit against Binance.
The agency has put its foot down on crypto exchanges. It could be indicative of the SEC looking to bring the decentralized cryptocurrency sector within its scope and have a more active role in controlling its trajectory. That said, there is an inherent conflict between seeking to regulate a decentralized sector heavily and nurturing innovation.
DigiToads continues to impress despite the regulatory crackdown
Once the news of the lawsuits broke, crypto prices took a hit. Nonetheless, investors continued to support some projects. DigiToads is one such exception, with a presale that continues to defy expectations.
At press time, the presale is nudging towards the $5 million mark, with more investors coming on board. This project is one of the beacons in a market looking for high water marks to provide hope during these uncertain times. At press time, the project had sold 98% of the tokens available for the presale showing the level of interest in this token.
DigiToads is a one-of-a-kind memecoin that could transform how these coins work. It seeks to merge the viral popularity of a memecoin with the utility of a play-to-earn gaming ecosystem. It entails nurturing digital toads that grow and fight for their metaverse ecosystem. The cumulative effect is a wholesome memecoin that can provide sustainable benefits to its holders. Notably, TOADS is an ERC-20 standard token, meaning broad compatibility with Ethereum wallets and related projects.
Additionally, DigiToads has NFT collectibles for users to get more value. These in-game collectibles make the gaming experience more fulfilling. Besides, you can stake the collectibles for rewards from TOADS tokens transaction fees. This possibility ensures that the value of the NFTs remains as holders don’t flood the market constantly.
It is easy to see why TOADS is showing resilience at the moment. Investors are keen on digital assets that can stand out in the market. DigiToads’ value proposition is one of the most impressive in this sector.
Conclusion
Crypto enthusiasts will be tracking every move from the SEC after the recent developments. This agency is now looking to assert itself in the crypto scene more than ever before. However, there will ultimately be some balance with the need to protect blockchain innovation and projects like DigiToads.
DigiToads has continued to push the limits of what is possible in emerging among incumbents by daring to be different. The presale is on and will reward investors who got in earliest even as the project heads towards full launch.
For more information on DigiToads visit the website, join the presale or join the community for regular updates.
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