Shapeshift CEO asks Financial Regulators to hug Cryptos

Erik Voorhees, CEO of cryptocurrency exchange Shapeshift, called on regulators to accept cryptocurrencies as a competition to the existing financial system
12 June 2018   2466

Voorhees expressed his point of view in an interview with Bloomberg. He displayed some problems within the cryptocurrency industry, including regulation, competition and the future of Switzerland-based Shapeshift AG. Voorhees confirmed the existence of centrally-issued money is incongruous to the existing framework of a market-based economy. Then he compared the issuance of money to a manufacturer of shoes and claimed if strict regulations prohibit the latter from getting a monopoly in the market, the same ideology must apply to fiat currencies.

Voorhees said that money is the foremost good in a market-built economy and have be open to competition:

Most regulation is superfluous at best, and a lot of it is quite harmful. Even if someone doesn’t buy into the idea that cryptos will overtake fiat, most people should at least be interested in the fact that competition is now happening. That’s generally seen as a good thing.
Erik Voorhees,
CEO, Crypto Exchange Shapeshift

Shapeshift CEO also expressed an opinion that the present model of regulation makes problems instead of remit them. Criticising American cryptocurrency regulations, he continued:

Regulation should focus on preventing fraud and theft. There is no need for thousands of pages of regulations to prevent fraud. Most of the regulations have nothing to do with preventing fraud. Consenting adults who are not cheating each other should be allowed to interact economically in any way they see fit.
Erik Voorhees,
CEO, Crypto Exchange Shapeshift

Voorhees supposes that growing regulatory legislation has a positive correlation to “brain and capital flight” in the crypto sphere, citing the example of the New York-based BitLicense. At the end of the interview, Vorhees hinted at the SEC’s ambiguity over Initial Coin Offerings (ICOs) as another reason that impacts Shapeshift’s reluctance to run an ICO.

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   1025

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.