Coinbase Removes Cryptocurrency Links After 'Rug Pull' Warnings Squid game token crypto It's a cautionary coin tale… Crypto markets and exchanges lack the controls and fraud protections that the stock market has. But SEC Chairman Gary Gensler wants the “Wild West” of crypto to be regulated in the same way the SEC oversees securities like stocks and bonds. While regulation could take years, the Squid debacle highlights the unique risk of investing in crypto without conducting due diligence.
Squid Game was one of 2021’s biggest television hits and the SQUID cryptocurrency aims to capitalise on its success. Learn everything you need to know about Squid in this guide and follow our step-by-step guide to getting it. WEMIX gains 200%+ after stablecoin and boosted staking rewards announcement After dominating the entertainment world, Squid Game has taken over the cryptocurrency world, though one should invest at their own risk.
Notably, CoinMarketCap has posted a notice for interested users about the token, stating that it “received multiple reports that users are unable to sell this token on Pancakeswap”, and asked to “exercise caution” when trading. The value of the token, with the branding of the hit Netflix series, surged more than 300,000% in a few days - but there were red flags aplenty as investors were unable to sell their tokens from the beginning. Squid has only traded for a week, according to CoinMarketCap.
The Squid Game team described this sell restriction as an anti-dumping mechanism. In reality, it prevented holders from being able to get rid of the SQUID tokens that they held. It is quite simple; if people can’t sell, then they can’t dump the coins. Leaving the developers in a position where they are the only ones who can exist from the project. Somehow, investors completely ignored this glaring red caution sign that said scam. While ApeCoin Price Explodes, These 3 Coins May 10x Copyright © 2018 - 2023 Crypto.com. All rights reserved.