The Securities and Exchange Commission (SEC) has taken legal action against Binance and Coinbase, but the lawsuits present distinct legal arguments. Coinbase and its holding company are accused of violating five laws, while Binance faces allegations of 13 violations.
The SEC’s lawsuit against Binance includes additional serious allegations such as fraud, market manipulation, commingling of investor funds, and diversion of investment funds, which could lead to significant consequences.
Binance and Coinbase have refuted the accusations and are actively challenging the lawsuits. Coinbase is already involved in a legal dispute with the SEC after receiving a Wells notice. As the Uwerx project progresses significantly, what are the SEC regulatory implications for Filecoin (FIL) and Axie Infinity (AXS)?
Could Filecoin (FIL) Be Making A Comeback Amid The SEC Crisis?
In April 2023, Filecoin (FIL) experienced a decline caused by technical challenges within the decentralized storage network. The delay in block production resulted in revenue loss for storage providers and decreased chain quality.
However, the Filecoin (FIL) team proposed a network upgrade to address the disruptions. The upgrade aims to reduce block sync times and minimize the risk associated with migration work. On a positive note, the Filecoin (FIL) ecosystem has seen an increase in unique contracts deployed on the recently launched Filecoin Virtual Machine (FVM) and a growth in the number of storage provider systems.
As the SEC regulatory attempt looms, Filecoin (FIL) is up by 5.52%. While this might be good short-term news for investors, we have yet to discover the long-term implications of the current crypto clampdown for Filecoin (FIL).
Axie Infinity’s (AXS) Launch On iOS Is Eclipsing SEC Regulations
Axie Infinity (AXS), the popular blockchain game that allows players to earn rewards, is now officially available for download on Apple’s App Store. This comes after significant network updates in the last few months.
The game’s latest version, Axie Infinity Origins, has successfully passed Apple’s review process and is now accessible to iOS users. The development team worked on optimizing the gameplay experience after initially launching a limited version on the Google Playstore in Malaysia. They have now expanded their reach to other markets.
Axie Infinity (AXS) gained significant popularity during the COVID-19 pandemic but faced a decline in 2022 due to market conditions. With the iOS release, the team aims to regain lost users, starting with selected countries in Latin America and Southeast Asia. This milestone represents a rare agreement by Apple to allow externally purchased NFTs on the App Store, which is a positive development for the blockchain gaming industry.
As of writing, the price of Axie Infinity (AXS) is up by 1.04%. However, the 24-hour trading volume is down 32.79%, indicating that the SEC action may be impacting investor interests.
What’s Happening In Uwerx (WERX)?
With the growing number of remote and freelance workers post-pandemic, the gig economy market is projected to reach $455 million by Q4 2023, according to Velocity Global.
Uwerx is an upcoming platform with significant potential to revolutionize the freelance industry with a minimal 1% fee compared to traditional platforms with prohibitive fees. But how has the crypto project evolved recently?
Uwerx is in its 5th presale stage, moving from stage 1 to 5 in a few months. In this period, it has amassed 7,500+ signups, 1,629 Twitter followers, and 1,710 Telegram members. Uwerx has experienced a steady rise in its presale price, recently rising to $0.047725. That’s a 730% rise from its starting presale price.
The rapid adoption of the presale can be cited as the reason for such an exponential surge. Thanks to this massive adoption, the Uwerx team has also been prompted to increase presale token allocation to 57% of the 750 million total token supply.
Furthermore, Uwerx has introduced the alpha version of its platform, offering various functionalities such as Landing, Sign-up, Login, Forgot Password, Hiring Dashboard, Freelancer/Client Initiation, The Initial Step of Job Creation, Initial Step of Finding Talent, My Activity, and Job Creation process pages.
The platform is now preparing to transition from Alpha to Beta and inviting users to personally test the platform. Uwerx values user feedback, thoughts, and recommendations and has established a dedicated email ([email protected]) to receive these valuable inputs.
Recently, Uwerx increased the security and transparency of its platform, locking developers’ liquidity tokens for 25 years on June 7, 2023. The project has also undergone audits by SolidProof and InterFi Network, ensuring the safety of investors’ assets. Furthermore, the Uwerx team will relinquish smart contract ownership after listing the WERX token on centralized exchanges to prevent fraudulent behavior.
Take advantage of the Uwerx presale today and enjoy a 15% bonus on all purchases. The project has also launched referral bonuses to incentivize active users.
To buy the Uwerx Presale: https://invest.uwerx.network
Telegram: https://t.me/uwerx_network
Twitter: https://twitter.com/uwerx_network
Website: https://www.uwerx.network
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
