Verge is not just around PornHub’s deal or partnerships with adulterated sites was verge’s thing for a long time in the market with some major impacts but moving on, they have displayed a wider range of collaborations from different fields in the industry.
MyFitStuff, an e-commerce shopping site focussing on fitness merchandise and goods is now officially accepting a cryptocurrency as their payment method. It is Verge [XVG] which is the only currency currently accepted on their online shop based in Los Angeles, CA. They accept Verge solely in association with Coinpayments.net which is an integrated payment gateway for cryptocurrencies such as Bitcoin, Litecoin, and now Verge.
MyFitStuff official tweeted:
“http://Myfitstuff.com officially accepts @vergecurrency now!! Feel free to shop our site and pay with #XVG”
The Verge team has been regular and constantly in news for partnerships one after the other, as the founder had promised and announced publicly earlier to expect a lot more in future.
Nitesh Chaudhary, a market observer tweeted:
“Success of mass adoption solely depend upon network robustness. Currently, every verge owner is afraid of network hack. Network hack is more dangerous than wallet hack.”
Jonas Silva, a verge enthusiast says:
“Verge is much better than BTC. More adoption, more efficiency!”
Verge too has been a recent victim of the not so rare hack attack in the crypto industry but they seem to have recovered quickly. The quarter has not favored Verge’s token XVG as it lost its position from the top 30 and moved to further below 30.
It is currently trading at $0.03 only to leave its investors in dismay despite a positive figure of almost 5% since the past few hours.
The community and Verge supporters have been very positive despite a series of disappointing activities including the DDOS attack as they continue to be optimistic with their support to the currency.
XVGZeus, a Twitterati says:
“When I saw the ddos attack i bought more verge do you know why. I instantly realized that so many coins and companies are scare of @vergecurrency so they did this to bring verge down, but nah you chose the wrong coin, we are strong and we don’t get down easily. TO MOON #XVG.”
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FLiK case: Utility tokens take another hit in case allegedly involving Rapper TI, claims prominent lawyer
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″
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.
Even so, court says there’s a time problem — claims for unregistered sale of securities have to be brought within a year after the violation on which they are based, under federal law. Because this isn’t pleaded, these claims are dismissed with leave to refile. 4/4
— Palley (@stephendpalley) May 20, 2019
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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