Bitcoin and Avorak AI undaunted by Binance, Ripple and Coinbase Lawsuits

In the face of lawsuits targeting major players in the cryptocurrency industry such as Binance, Ripple, and Coinbase, Bitcoin (BTC) and Avorak AI (AVRK) continue to thrive, maintaining their positions in the ever-evolving world of blockchain technology.

XRP Lawsuit

The XRP lawsuit has been a significant legal battle for Ripple, the company behind the cryptocurrency. The U.S. Securities and Exchange Commission (SEC) sued Ripple in 2020, alleging that XRP is a security and that Ripple conducted an unregistered security offering in its sale. The case has created uncertainty around the regulatory status of XRP and has had an impact on Ripple's operations. Despite the legal challenges, Ripple has remained steadfast in defending its position and has received the backing of many in the crypto community. The outcome of the lawsuit is expected sometime this year and will have significant implications not only for Ripple but also for the broader cryptocurrency industry, as it establishes critical legal precedents regarding the classification of digital assets and the regulatory framework surrounding them.

Coinbase and Binance 

Coinbase and Binance are two of the leading cryptocurrency exchanges. On June 5th, the SEC sued Binance for various allegations, including the offering of 12 cryptocurrency coins without registering them as securities. The following day, the SEC accused Coinbase of engaging in the trading of at least 13 crypto assets that should have been registered as securities. These legal actions have increased the number of cryptocurrencies explicitly identified by the SEC as securities, raising concerns about the regulatory risk faced by exchanges that have enabled U.S. investors to trade these tokens. Some industry watchers suggest that to mitigate this risk, some exchanges may choose to delist the said tokens.

Is Bitcoin dead?

Bitcoin (BTC) remains resilient and far from being considered dead. The pioneering cryptocurrency has endured numerous ups and downs since its inception but has consistently proven its ability to bounce. BTC has weathered regulatory scrutiny, market volatility, and skepticism from traditional financial institutions. In fact, Gary Gensler, the chair of the SEC suggested that all cryptocurrencies except Bitcoin (BTC) should be considered securities. Bitcoin's finite supply, scarcity, and strong community support contribute to its enduring value proposition.

Can Avorak AI still 100X?

Avorak AI is an AI Crypto project in its initial coin offering (ICO) phase. The project has been projected to 100x, and many in the crypto community still believe it could attain this significant target despite the regulatory uncertainty in the U.S.

Avorak's impressive targets have been largely attributed to the many competitive advantages the project has. Firstly, Avorak is first-to-the-market, allowing it to get ahead of competition and gain more users as it enables them to get unmatched advantages. The project offers a comprehensive AI solution that can be used in customer service, content creation, trading, security management, architecture, online shopping, and various other fields.

Some of Avorak's solutions have already shown significant signs of usability, efficiency, and applicability. The Avorak Trade bot has provided price predictions on various assets. And when launched, users will get accurate predictions with indicators and alerts whenever market patterns or trends change. The Avorak Trade bot uses a non-code command-line input system, ensuring increased accessibility.

Avorak AI has also demonstrated its commitment to actualizing its roadmap and expanding its offerings. The project has an ongoing beta test where its community is helping in the development of various aspects within the platform. Avorak has also launched a unique NFT collection that provides aesthetic quality and utility benefits.

AVRK, the token required to access the platform's services, has had a 325% increase, and is currently selling at $0.255. AVRK's launch price is set at $1, which is already higher than many altcoins. The project's development team is reputable and has emphasized on its commitment to following applicable regulations.

These factors indicate a blockchain-based project set to become a significant player in the cryptocurrency market.

For more information on Avorak and its ICO:

Website: https://avorak.ai

Buy AVRK: https://invest.avorak.ai/register