As Binance strikes back against SEC, DigiToads presale emerges strong
In the face of regulatory challenges, Binance, one of the largest cryptocurrency exchanges, has been at odds with the U.S. Securities and Exchange Commission (SEC). This clash has sent shockwaves through the crypto community and highlighted the need for innovative and decentralized projects like DigiToads (TOADS).
DigiToads is adopting a new approach and has the potential to be disruptive. The recent presale of TOADS has raised over $5.7 million.
The DigiToads presale, with over 353.2 million tokens sold, accounting for 94.3% of the total token supply, is proving successful. This response from investors points to growing interest in the project. With a current token price of $0.047, there could be more gains in the future.
DigiToads
One of the key factors driving the DigiToads presale is its economic model, aptly named “TOAD Economics.” This strategy employs a range of tactics designed to foster growth and reward loyalty within the community.
A 7% tax is applied to every transaction, entering and leaving the ecosystem, with the tax allocation benefiting the token holders.
The tax includes a 2% token burn, which creates a deflationary effect and decreases the circulating supply of TOADS over time, contributing to the scarcity and potential value appreciation of the tokens.
Furthermore, the non-fungible token (NFT) staking pool stands out in the DigiToads ecosystem. With each transaction, 2% of TOAD tokens are allocated to the staking rewards distributed to the staked TOADS NFTs.
This system incentivizes users to hold onto their tokens and NFTs, creating a continuous cycle of reward distribution for Toad aficionados. The staking mechanism benefits individual users and supports the liquidity and overall health of the TOADS ecosystem.
The ongoing DigiToads presale highlights the project’s commitment to transparency, community engagement, and environmental advocacy.Â
DigiToads pledges 2.5% of all profits to charities dedicated to reforestation efforts in the Amazon rainforest. This donation contributes to the preservation of the world’s ecosystem. It enhances DigiToads’ reputation and allure in the global crypto community.
Binance vs. SEC
Binance.US, the American arm of the world’s largest cryptocurrency exchange, Binance, has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC). The lawsuit accuses the SEC of misleading statements and a lack of evidence in its investigation into Binance US.
The SEC has been investigating Binance.US since 2020, alleging that the exchange violated securities laws by selling unregistered securities. Binance.US has denied the allegations, and the lawsuit is the latest development in the ongoing legal battle between the two parties.
In the lawsuit, Binance.US accuses the SEC of issuing misleading statements about the nature of its investigation. The exchange claims that the SEC told Binance.US that it was only investigating whether the exchange had properly registered its tokens, but that the SEC was investigating whether Binance.US had engaged in illegal securities offerings.
Binance.US also accuses the SEC of a lack of evidence in its investigation. The exchange claims that the SEC has not provided evidence that it sold unregistered securities. The SEC’s case is based on speculation and conjecture.
The lawsuit is a significant development in the legal battle between Binance.US and the SEC. If Binance.US is successful in its lawsuit, it could set a precedent that would make it more difficult for the SEC to investigate and prosecute cryptocurrency exchanges.
Conclusion
The lawsuit also shows the growing tension between the cryptocurrency industry and regulators. The SEC has been increasingly scrutinizing the cryptocurrency industry, and Binance.US is not the only exchange targeted by the SEC. In recent months, the SEC has also taken action against other cryptocurrency exchanges, including BitMEX and Poloniex.
The legal battle between Binance.US and the SEC will likely continue. It remains to be seen whether Binance.US will be successful in its lawsuit. However, the case is a significant development in the ongoing regulatory crackdown on cryptocurrency.
As Binance faces regulatory challenges, DigiToads is a beacon of decentralization, community empowerment, and sustainable growth in the ever-evolving crypto landscape. With its TOAD Economics strategy, deflationary token model, and NFT staking pool, DigiToads offers a comprehensive ecosystem distinguishing it from competitors.
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