Gary Gensler vs. Crypto: How Will Big Names Like BitTorrent (BTT), And Ducat (DUCAT) Match Uwerx’s (WERX) Performance

The SEC has filed lawsuits against Binance and Coinbase, citing violations of securities laws. However, the lawsuits differ in their specific charges. Binance, its CEO Changpeng Zhao, and two others face 13 charges, including allegations of misleading regulators. 

Binance’s legal team has raised concerns about potential conflicts of interest, claiming that SEC Chair Gary Gensler offered to advise the exchange in 2019. The SEC’s investigations into Binance began after Gensler and Zhao reportedly last communicated.

Coinbase’s lawsuit, filed shortly after the Binance case, focuses on accusations that the exchange operated as an unregistered securities exchange, broker, and clearing agency. Both lawsuits identify specific cryptocurrencies considered securities by the SEC, with Binance listing 12 assets and Coinbase listing 13, although the SEC clarified that the lists are not exhaustive.

Despite the lawsuits, the overall crypto market initially remained largely positive. There were no significant market disruptions in the first 24 hours following the filing. Subsequently, the top two cryptos, BTC and ETH, experienced slight declines. The global crypto market cap also decreased by 2.7%.

It is important to note that the situation is ongoing, and further developments could impact the market and the involved exchanges. So can big names like BitTorrent (BTT) and Ducat (DUCAT) under the SEC’s securities radar match Uwerx’s performance? Let’s find out!

What’s Happening To BitTorrent (BTT)?

Recently, Mdex, a decentralized exchange, announced its support for BitTorrent. As part of a “feedback activity,” participants can win a portion of the $180,000 reward by utilizing Mdex for actions like token bridging, liquidity pool addition, and staking.

Furthermore, BitTorrent invited developers to submit their dApps and websites for deployment on Awesome BTFS (BitTorrent File System). The company highlights the potential of Awesome BTFS to connect websites with a broad audience, boost traffic, and amplify their impact. The technology is described as a next-gen decentralized file storage system built for web 3.0 apps, utilizing multichain P2P networks and smart contracts for scalable and cost-effective data storage.

Notably, several prominent websites joined Awesome BTFS, including Yam Finance, Uniswap V3, and Tron-affiliated platforms like SunSwap and TRONScan. These developments signify the growing adoption and expansion of BitTorrent’s ecosystem within the crypto space.

BitTorrent has further made notable development updates, focusing on enhancing network decentralization and completing the Repair mode while the Challenge mode is still in progress. These updates have likely contributed to the positive market sentiment surrounding BTT.

Ducat (DUCAT) Faces More Scrutiny

Last year, American CryptoFed, a DAO based in Wyoming, opted to withdraw its application to register Ducat (DUCAT) with the SEC as securities. CryptoFed contended that the token does not meet the criteria for classification as securities. 

However, the SEC’s recent extensive classification of cryptocurrencies as securities has put Ducat (DUCAT) in the securities category alongside 60 other notable cryptocurrencies.

As a result of the SEC’s actions, the agency currently regulates a market valuation for cryptos worth more than $100 billion. This accounts for approximately 10% of the $1.09 trillion crypto market.

Gary Gensler has stated that, except for Bitcoin, the SEC ranks all other cryptocurrencies under its jurisdiction as securities. 

Uwerx (WERX): Redefining Freelancing and Empowering Creatives

According to a 2022 Velocity Global stat, one-quarter of at least 40% of companies are gig workers. This shows an upward growth of the gig economy and a need for more innovative freelance platforms.

Uwerx, a decentralized and innovative freelancing platform, sets itself apart with its groundbreaking approach. It charges a minimal 1% transaction fee compared to competitors like Upwork and Fiverr, who impose hefty 10% and 20% fees, respectively. By prioritizing freelancers’ earnings, Uwerx reshapes the rules and grants them the financial freedom they deserve.

Uwerx recently launched the alpha version of its platform, featuring the Landing, Sign-up, Login, Forgot Password, Hiring Dashboard, Freelancer/Client Initiation, The Initial Step of Job Creation, and Initial Step of Finding Talent, My Activity, and Job Creation process pages. 

Furthermore, Uwerx is preparing for the transition from Alpha to Beta, inviting users to personally test the platform. Uwerx appreciates users’ feedback, thoughts, and recommendations and has dedicated an email ([email protected]) to receive these inputs.

Behind the scenes, the Uwerx team is working diligently. Uwerx has taken significant steps to bolster investor confidence and strengthen the project’s security. On June 7, 2023, Uwerx implemented a 25-year lock on developers’ liquidity tokens, ensuring a long-term commitment to stability and reliability. 

To further solidify its trustworthiness, Uwerx has secured audit approvals from esteemed organizations like InterFi Network and SolidProof. In addition, Uwerx is dedicated to promoting decentralization in the industry. As part of this commitment, the project will renounce ownership of smart contracts once it is prepared to list on centralized exchanges. 

However, the Uwerx presale is spinning crypto enthusiasts’ heads the most. The exponential adoption has already prompted the Uwerx team to boost presale token allocation to 57% of its 700 million total token supply.

The presale price also experienced an increase to $0.05245. That’s a 730% profit for the earliest investors. Experts have predicted that the value of Uwerx could reach $3 by Q1 2024.

So why not buy into this revolutionary project and receive a 15% bonus on all your purchases at $0.05245 before the price increase to $0.06294? You can also earn additional incentives from your referrals.

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  

Chainbits is not the source of this content. This article is provided for educational purposes only. Users should exercise caution with investing/dealing with cryptocurrencies and do thorough research prior.