Vitalik Buterin Asks Twitter Followers Which Crypto They Prefer to Overtake Ethereum — Cardano, Tron Favorites

Vitalik Buterin Asks Crypto Twitter Which Currency They Prefer to Replace Ethereum — Cardano and Tron WinnersEthereum co-founder Vitalik Buterin set up a pair of polls on Twitter asking his followers if 80% of all transactions and savings in the year 2035 are in one currency and it is not ether, which currency they would prefer it to be. He asked them to choose from a number of cryptocurrencies including bitcoin, […]
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Value Locked in Defi Slips 5% in 24 Hours, AMM and Rebase Tokens Take Double-Digit Losses

Value Locked in Defi Slips 5% in 24 Hours, AMM and Rebase Tokens Take Double-Digit LossesSince mid-November the total value locked (TVL) in decentralized finance (defi) has slid from $257 billion to $250.55 billion and during the last 24 hours it lost a touch more than 5%. Over the last seven days, defi tokens like uniswap, pancakeswap, curve dao token, 1inch and sushi have lost anywhere between 15% to 23.9% […]
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Top Ten Crypto Market Capitalizations Shifted a Great Deal Since the Last Time BTC Hit $60K

Top Ten Crypto Market Capitalizations Shifted a Great Deal Since the Last Time BTC Hit $60KThe price of bitcoin recently jumped above the $60,000 per unit mark on October 15, and the leading crypto asset has not seen prices this high since mid-April six months ago. However, as far as the top digital assets are concerned, in terms of market capitalization, things are a whole lot different. For instance, ether […]
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Tron asks NY judge to turf ICO suit from Binance bag holders

The Tron Foundation has filed a motion to dismiss a lawsuit from plaintiffs alleging securities violations with its $70 million 2017 ICO.

The Tron Foundation has requested a New York federal judge dismiss a class action lawsuit alleging securities violations through Tron’s 2017 initial coin offering, describing the claims as “fatally flawed.”

The Chinese blockchain developer filed a motion to dismiss on Dec. 15, asserting that the case has “no connection” to New York. The foundation also emphasized that the lead plaintiffs did not participate in Tron’s ICO, and that they filed the suit roughly two years after the offering’s completion:

“Despite having not purchased during the initial offering or from Tron, plaintiffs attempt to form a nexus between their purchases and alleged marketing activities by Tron.”

Tron argued that the complaint does not allege that U.S.-based investors participated in the ICO.

The motion also notes that the three lead plaintiffs purchased their TRX tokens through secondary exchange, Binance, asserting the suit should be dropped as it appeals to securities laws that do not apply to secondary market purchases.

Tron argued that the plaintiffs’ decision to purchase TRX years after the ICO through a secondary exchange has no connection to the Tron Foundation.

The defendants also dismissed allegations that Tron’s 2017 whitepaper was misleading through characterizing TRX tokens as not comprising securities, stating:

“This claim was not even pleaded in the original complaint, and it is nothing but a litigation afterthought.”

The lawsuit was filed on April 3, the same day that 10 other suits were lodged in the Southern District of New York against crypto exchanges and issuers, all of which alleged the distribution of unregistered securities.

Tron conducted its ICO from Aug. 24, 2017 until Sept. 2, 2017, raking in $70 million for its TRX tokens that it described as the native currency for its online platform.

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Token Projects to Recover $130M from the Kucoin Hack, Devs Condemned for Centralization

Token Projects to Recover $130M from the Kucoin Hack, Devs Condemned for CentralizationThe cryptocurrency community has been discussing the Kucoin hack as a great number of ERC20 projects have frozen, paused, or reversed their smart contracts after the hack. Estimates say that at least $129 million ERC20 tokens affected are considered “safe” from the hacker’s clutches. Additionally, evaluations show the breach may be much larger than originally […]

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