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Tron [TRX] should to be stayed away from, SEC insider warns ChaChing’s Thomas Schulz

Jibin M George

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Tron [TRX] to be stayed away from, SEC insider warns ChaChing's Thomas Schulz
Source: Pixabay

In what could be a sign of the troubles Tron may face, ChaChing Wallet’s CEO Thomas Schulz has claimed that he has received some ‘advice,’ requesting him to stay away from Tron. This development follows days after Tron and its community members were publicly slammed by Craig Wright on Twitter.

Craig Wright, notable for his not-so-diplomatic outbursts and takes on rival projects, had just slammed Tron as a ‘retarded project’ while also calling the many who support TRX ‘dumber than dirt’ recently.

According to Schulz, the advice which came to him from the well-connected United States Securities and Exchange Commission [SEC] insider simply asked him to “Stay away from Tron”. Whether this is true or not isn’t certain, but Schulz’s tweet caused quite a reaction online, with some suggesting this is part of another smear campaign launched against the Tron project.

Source: Twitter

And while Schulz outrightly dismissed his tweet being part of a smear campaign, he did emphatically state that Tron isn’t a fruitful project.

Source: Twitter

Schulz was, however, forthcoming to a lot of questions raised following his tweet. For instance, there were many who pointed out how the SEC would have jurisdiction considering Tron was a Chinese corporation, to which he replied:

“They have an office in the United States (San Francisco) & have US citizens holding a coin that could arguably be a security. Not to say that these are the reasons, but I’m merely reporting what I was told & the source was credible.”

What this warning/advice would mean for the Tron project and its community is unclear. However, if one were to believe it to be true, it puts American citizens who hold TRX coins at risk. And while Schulz has stated that he doesn’t know why the SEC would take any action against Tron so soon after the end of the government shutdown, he does suggest that it could be because there are American citizens holding a coin that is arguable security.



Source: Twitter

Schulz has also dismissed allegations of this ‘warning’ being an instance of insider trading as in his mind, it didn’t count as financial advice.

Finally, Schulz has also dismissed the notion that he’s spreading Fear, Uncertainty, and Doubt about Tron by stating:

“I can see the perspective of how this could be classified as FUD. I just know I’d regret/feel bad for not sharing information that came my way.”





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2 Comments

2 Comments

  1. Avatar

    Clie Maria

    February 3, 2019 at 8:22 PM

    So.

    This article doesn’t say if Mr. Schultz is a LTC holder?

    Because lots of LTC folks have been smearing TRX as TRX is now a direct competitor of LTC by market cap.

    Last week TRX took LTC’s spot and Oh My TRX WILL EVENTUALLY ECLIPSE LTC BY MARKET CAP at the number six spot.

    It’s only a matter of time.

  2. Avatar

    Clie Maria

    February 3, 2019 at 8:24 PM

    So.

    I wouldn’t take anything Mr. Schultz has to say too seriously.

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Altcoins

Tron DApp Weekly Report: Gambling apps leads the surge in Tron DApp numbers

Namrata Shukla

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Tron DApp Weekly Report: Tron DApps number led by Gambling apps
Source: Pixabay

Tron, the eleventh largest cryptocurrency on CoinMarketCap, recently collaborated with Bitpie, a partnership that would help startups to bridge the gap in vulnerable financial systems. Tron’s token might be lagging in terms of performance in the market but, Tron DApps continued to surge.

The DApp weekly report released by the Tron Foundation reported an increase of 22 DApps in the Tron ecosystem, taking the total to 392. It noted that gambling DApps mainly contributed to this growth as 17 DApps were gambling-based. Decentralized exchanges followed suit, as 3 new DApps made their way into the Tron DApp ecosystem. The main highlight for the entire Tron community was the partnership with Opera, a mainstream browser.

Tron introduced a DApp ‘Lucky Moon,’ an entertainment-based DApp that pushes users to estimate the current time to run away from the imploding rocket with a specific reward rate. As the rocket takes-off, the reward rate keeps increasing and the player will have to escape at the right time. An extension of this game is ‘Tyrant Annihilation,’ where users need to collect seven types of equipment to kill a tyrant. The DApp might have taken inspiration from The Avengers.



The report made note of the fact that the Tron public chain received support from Aocoin wallet, a decentralized secure digital currency wallet. My Token, a software company that specializes in market information has been integrated into Tronscan and TRX market, leading the way to user traffic in DApps ecosystem.

At press time, Tron was valued at $0.0283 with a market cap of $1.89 billion. The 24-hour trading volume of the coin was noted to be $690.34 as it reported 6.36% growth over the past day. The coin grew by 8.80% over the past seven days, but fell by 0.44% in an hour.





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