SEC Lawsuits Target Multiple Tokens: DCG Founder Points Out Absence of PoW Cryptos

In an unfolding legal battle against two major cryptocurrency exchanges, Coinbase and Binance, the United States Securities and Exchange Commission (SEC) has declared various tokens as securities. These tokens include SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO in the case against Coinbase. For Binance, the list features SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI.

This declaration by the SEC highlights its ongoing effort to regulate the cryptocurrency market and could have substantial implications for these tokens and their holders. If the SEC succeeds in classifying these tokens as securities, it would subject them to more stringent regulatory rules and obligations.

Barry Silbert, the founder of Digital Currency Group (DCG), commented on the situation via Twitter, noting, “No Proof of Work tokens in any of the lawsuits, I believe (BTC, LTC, XMR, ETC, ZEC, etc.).” Silbert’s tweet refers to the SEC’s decision to not include tokens that use Proof of Work (PoW) consensus mechanism in their lawsuits. This includes Bitcoin (BTC), Litecoin (LTC), Monero (XMR), Ethereum Classic (ETC), and Zcash (ZEC), among others.

The implication of Silbert’s statement suggests that the SEC might be differentiating between PoW tokens and other tokens. This differentiation could lead to different regulatory standards and implications for tokens depending on their underlying consensus mechanism.

This ongoing case and the SEC’s decisions could set a precedent for future regulations and classifications in the crypto market. As such, all eyes within the crypto community are keenly focused on the developments. It is yet to be seen how these decisions will shape the regulatory landscape of digital assets.

Source

Tagged : / / / / / / / / / / / / / / / / / /

Snoop Dogg’s Son Cordell Broadus Named Creative Director at Doge Dash


Former UCLA football athlete Cordell Broadus is championing his own lane of innovation in the cryptocurrency and non-fungible token (NFT) industries. The new play-to-earn (P2E) gaming app Doge Dash tapped Cordell Broadus as its first-ever creative director to oversee its brand and artistic framework.

Following his withdrawal from a promising career in sports, Cordell Broadus has become an avid and influential leader in the rapidly growing billion-dollar digital industry. The 24-year-old serial entrepreneur is the inspiration behind his father Snoop Dogg’s prolific rise and participation in the NFT and crypto movement.

A proud holder of one Bored Ape and two Mutant Apes, Cordell Broadus is an artist in his own right, having released a series of sold-out NFT projects. His innate expertise has positioned him as a consultant for many top sports, entertainment and fashion professionals like Tommy Hilfiger, Jeff Bezos and virtual platforms like The Sandbox.

Founded by Grammy-nominated producer and director Paul Caslin, Doge Dash is a Super Mario-inspired play-to-earn game where players simply collect coins that can easily be transferred directly to their crypto wallets.

Paul Caslin said,

“I know talent when I see it, and Cordell ticks all the boxes – young, dynamic and above all else, talented. I do not doubt that Cordell will help shape the future of NFTs and crypto gaming culture. We are delighted to welcome him to the Doge Dash family.”

Paul Caslin and Cordell Broadus plan to revolutionize and widen the crypto market for young enthusiasts. The duo will focus heavily on introducing cryptocurrency, creating an education ecosystem and building generational wealth for inner-city families. Broadus will be tasked with making the Doge Dash brand a household name through a series of NFTs, TV shows, merchandise and gaming projects.

Cordell Broadus said,

“Doge Dash is the next step in the evolution of gaming. Not only is it going to change gaming – it’ll change lives with the P2E platform. The potential is limitless, and I couldn’t be more excited about being a part of it.”

In celebration of its official launch, Doge Dash is hosting the Broadus family at the Crypto.com Arena on Christmas Day at the LA Lakers versus Brooklyn Nets game. Broadus, a father of three, will gather his children, nephews and nieces together to engage in a fun experience with the Doge Dash gaming platform.

For more information, visit the website.

Contact

Cathy J. Hood of Pristine Initiative, LLC

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

Follow Us on Twitter Facebook Telegram

 

 

Source

Tagged : / / /

Grammy-Nominated Producer Paul Caslin Founds Doge Dash: a New Play to Earn Game

[PRESS RELEASE – Please Read Disclaimer]

Grammy Nominated Producer and Director Paul Caslin is bringing his skills and contacts from the entertainment industry into crypto as the founder of Doge Dash: a new play-to-earn game.

“I was in the crypto space for the last year or so as an investor when it suddenly dawned on me that there was a HUGE hole in the market for a classic 2D side scrolling play-to-earn game where plays could simply collect coins, like in Super Mario, and those coins once collected would then be transferred to the players crypto wallets… I call it ‘crypto gaming made easy.’”

Paul is well renowned in the entertainment industry, having worked with the likes of Rihanna, Sir Paul McCartney, Eminem, and Justin Bieber, to name a few. He hopes to bring some of that “Hollywood” flair to crypto and make it appeal to a mainstream audience.

Doge_Dash2

“The crypto space is so insular and inward facing, I’m trying to break down those walls and make it appealing to the 99% outside of the crypto bubble with simple yet effective marketing strategy and a kick ass game.”

In just 8 weeks since their stealth launch, Doge Dash has amassed over 55,000 holders, more than 5 million plays of the game demo at dogedash.com, and have had countless Youtube and TikTok features, all whilst trending number 1 on CoinMarketCap every week so far since launch.

The future is bright for Doge Dash with their first NFTs drop December 4th and the long-awaited game launch in mid-December— but that’s not all. They partnered with payment solutions provider ChangeNow to add a fiat on-ramp to the Doge Dash website to allow crypto newbies to easily buy DogeDash coins directly with a credit card. In Caslin’s eyes this is a major step to mainstream adoption: “I want to make buying DogeDash as easy as buying groceries at your local store”.

Maybe crypto mass adoption is closer than we think!

For more info visit Dogedash.com and you can watch the full interview at https://www.youtube.com/watch?v=vIbWfNJrGTI

About Us

Doge Dash is a Play-To-Earn game where players pay 100 DOGEDASH coins to enter and stand a chance of earning the 10,000 DOGEDASH coins available in the game. The Doge Dash Play-to-Earn game launches in time for Christmas, check back for more info. It will be worth the wait!

SPECIAL OFFER (Sponsored)


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to $1750.





Source

Tagged : / /

Key data points suggest the crypto market’s short-term correction is over

The performance of cryptocurrencies in the past 7 days might have seemed slightly unexciting, especially since the total market capitalization increased by “only” 1.8% to reach $2.7 trillion. However, even with the muted price action, some altcoins managed a decent rally. Bitcoin (BTC), on the other hand, was down 6% until Nov. 28, but it still managed to close the week up 1.5% after a $3,200 rally on Sunday night. 

Winners and losers from the top 80 coins. Source: Nomics

Metaverse tokens are still pushing to new highs

The metaverse sector continued to outperform with Gala (GALA), The Sandbox (SAND), and Decentraland (MANA) among the top 5 gainers. While few play-to-earn and Metaverse “environments” are available for true interaction, major news and partnerships are still boosting these metaverse-related token valuations.

As reported by Cointelegraph on Nov. 24, Metaverse Group purchased virtual land in Decentraland for about $2.5 million. On Nov. 25, a digital land plot in the Axie Infinity game was sold for 550 ETH on Nov. 25, or roughly $2.5 million.

Moreover, a collaboration between Sony Pictures and AMC Entertainment announced on Nov. 28 will offer up to 86,000 Spider-Man NFTs to celebrate the opening day of its new feature movie.

Zash (ZEC), a privacy-focused cryptocurrency launched in Oct. 2016, spiked 20% in 24 hours on Nov. 20 as developers announced plans to abandon traditional mining and migrate to a Proof of Stake network.

Amp (AMP), the native collateral token of the Flexa payment network, also rallied on Nov. 24 after listing on Binance. Meanwhile, Terra (LUNA) benefited from a 5.4 million token burn in four days, according to Caviar startup founder and crypto investor Jason Wang.

Ethereum-killers limp along

Among the worst performers were four smart contract platforms aiming to break Ethereum’s dominance: Cardano (ADA), Near Protocol (NEAR), Polkadot (DOT) and Harmony (ONE).

On Nov. 24, Ethereum co-founder Vitalik Buterinand issued a proposal for the transaction calldata limit in a block to “cut costs and to incentivize an ecosystem-wide transition to a rollup-centric Ethereum”.

Aave Protocol (AAVE), the collateralized lending and yield platform, continues to trade in a downtrend after its TVL decreased by 30% in 3 months.

Dash (DASH) saw its number of addresses with at least 1,000 tokens decrease to 5,210, the lowest level since July 2018.

Tether and derivatives markets are looking flat

The OKEx Tether (USDT) premium measures the difference between China-based peer-to-peer (P2P) trades and the official U.S. dollar currency, has improved slightly.

OKEx USDT peer-to-peer premium vs. USD. Source: OKEx

The indicator’s 99% reading is neutral-to-bearish, signaling weak demand from cryptocurrency traders to convert cash into stablecoins, but it’s still a vast improvement from the 5% discount in mid-October.

Furthermore, the cryptocurrency total futures open interest held steady near $50 billion, which is merely 10% below the all-time high. It is worth noting that an open interest decrease is not necessarily bearish, but maintaining a certain level is interesting because more liquidity providers and market makers enter the market.

Total crypto aggregated futures open interest. Source: Coinglass.com

The futures’ open interest provides a healthy reading considering the nearly $2.0 billion worth of liquidations that happened during the week. The 10% total crypto market capitalization dropped to $2.37 trillion on Nov. 25 and was responsible for 44% of the forced futures contracts terminations.

The above data might not sound exciting, but considering that Bitcoin (BTC) and Ether (ETH) are both strong on Nov. 29, the rebound from the previous day might indicate that the 2-week correction period could be over.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.