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Unocoin announces listing for Golem [GNT], Zilliqa [ZIL] and 3 more coins – ends up facing technical glitch

Sthuthie Murthy



Unocoin announces the enlistment of five coins - ends up facing technical glitch
Source: Pexels

Unocoin, the leading Bitcoin and cryptocurrency exchange platform in India has listed multiple coins on their portal. The platform which was funded by top ventures such as Future Perfect Ventures, Digital Currency Group, Mumbai Angels, Huiyin Blockchain Venture and more. They chose their Twitter platform to announce that they have enlisted five coins on their exchange platform.

Earlier today, Unocoin listed Golem [GNT], Zilliqa [ZIL], Funfair [FUN], Bread [BRD] and Basic Attention Token [BAT]. But, soon after the listing of coins, users started to face technical issues with Zilliqa [ZIL] coin. The users haven’t received/ been credited their ZIL on their wallet and the issue hasn’t been solved for hours. According to some users, deposits and withdrawals have been restricted.

In addition to this, the exchange platform has also announced that many more coins will be supported on the platform soon.

Yasir, a cryptocurrency enthusiast says:

“It’s technical issue from Unocoin, don’t worry your money is safe, I’m also facing the same problem. They said after midnight or by tomorrow it’ll reflect in the Unocoin wallet.”

Akshay Gokhale, a Twitterati says:

“Thanks a lot Unocoin!!! I am pretty sure that till end of summer I can see dozens of coins on our app! I personally love Unocoin! I am hoping u ll be the Binance of India! Plz add such coins more!!”

Manikandan, another Twitterati says:

“Very good congratulations..add more coin & clients because very low volume in unocoin. My full support give unocoin… because my first wallet unocoin..”

CryptoInvestor87 says:

“Launching new coins but no improvements to existing problems with your exchange! Nothing but problems! Deposits, withdrawals restricted no deposit/withdrawal address for any of the new coins. Apps constantly crashing, updates taking four days. How is anyone supposed to trade?”

According to CoinMarketCap, at press time, Golem [GNT] was trading at $0.516 with a market cap of $430 million, Zilliqa [ZIL] was trading at $0.134 with a market cap of $980 million, Funfair [FUN] was trading at $0.048 with a market cap of $236 million, Bread [BRD] was trading at $0.638 with a market cap of $56 million and Basic Attention Token [BAT] was trading at $0.350 with a market cap of $350 million.

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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

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FLiK case: Utility tokens take another hit in case allegedly involving Rapper TI, claims prominent lawyer





Source: Unsplash

Stephen Palley, a prominent lawyer at Anderson Kill, spoke out about the FLiK token case via his official Twitter handle. Notably, unlike most tokens in the space, FLiK made headlines because of its celebrity backing.

Towards the end of last year, it was reported that the US Rapper Clifford Joseph Harris Jr., who goes by the stage name T.I. and T.I.P., was sued for $5 million over the alleged failure of the token promoted by him and his partner, Ray Felton. The rapper was being sued by a group of 25 individuals who claimed that that they invested around $1.3 million in the tokens.

Additionally, there were allegations that the rapper used the raised money to increase the token’s value, following which the duo sold their holdings after the coin crashed. Other well-renowned celebrities such as Kevin Hart and Mark Cuban were also reportedly associated with this project.

On the recent developments surrounding the case, Stephen Palley stated,

“Utility tokens” take another hit in case allegedly involving rapper TI. Court says FLiK ICO tokens = securities under Howey Test, for motion to dismiss purposes. That they offered some functionality ≠ relevant given buyers’ expect of profits solely from efforts of others. 1/4″

Source: Twitter

Source: Twitter

Source: Twitter
The lawyer further stated that,”use of funds” was already determined by the defendants, “per the FLiK token whitepaper.” He went on to state that there was a time problem, adding that Federal Law rules that “unregistered sale” of security tokens were supposed to be reported within 12 months after the violation.

The lawyer concluded by tweeting,

“ps — form was never going to be exalted over substance, so none of this is a huge surprise. Also, this is a ruling on Rule 12(b)(6) motion to dismiss so the Court takes the allegations as true for purposes of ruling. The merits still have to be litigated.”

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