The United States Department of Justice recently seized roughly $112 million worth of crypto from various virtual currency accounts. These accounts were associated with a variety of crypto scams that fraudulently obtained funds from novice crypto users. The move by the DOJ only underlines the importance of ensuring only trustworthy platforms flood the market. On that note, analysts have seen a positive reaction to new kid on the block, TMS Network (TMSN), which is currently in the second phase of presale and has raised over $4 million since its launch. However, Arbitrum (ARB) and Monero (XMR) are looking likely to struggle.
TMS Network (TMSN)
The key value proposition of cryptocurrency is that users are in full control of their money through the combined use of their private keys with the blockchain network. But this key selling point of the technology falls apart when crypto users give their coins over to an exchange. That’s what TMS Network (TMSN) solves as a decentralized exchange (DEX) on the blockchain, but it does it in a way not seen with previous attempts.
Instead of being a cool little tool for crypto nerds, TMS Network (TMSN) is building a fully-fledged, user-friendly exchange with powerful tools that also happens to be decentralized. In this way, the decentralized properties of TMS Network (TMSN) can be mostly viewed as a way to bring additional security features to its users.
TMS Network’s (TMSN) innovative tools, including trading bots, on-chain analytics, and strategy builders, provide traders with the information needed to make informed decisions, giving them a competitive edge in the market.
Arbitrum (ARB) DAO, a decentralized organization that governs the Arbitrum (ARB) network, has proposed to return 55 million Arbitrum (ARB) tokens to its original holders. These tokens were initially distributed to early investors and team members, but were later burned when Arbitrum (ARB) launched its mainnet in August 2021.
Arbitrum (ARB) has a fixed supply of 625 million tokens, and the return of 55 million tokens would increase the circulating supply by almost 9%. This could create selling pressure and dilute the value of existing Arbitrum (ARB) holders.
Moreover, some critics argue that the proposal is unfair and undermines the trust and transparency of the Arbitrum (ARB) DAO. They claim that the proposal was not discussed with the community and that it favors a small group of insiders over the general public.
There are new allegations made by a crypto influencer named James Edwards, who claimed that former Monero (XMR) lead maintainer Riccardo Spagni helped Interpol and other federal agencies trace Monero (XMR) transactions, which are intended to be as private and anonymous as possible.
Edwards based his claims on some reports from 2021, which revealed that Spagni was detained in the U.S. pending extradition to South Africa for fraud charges. Edwards also used GPT-4 to analyze the reports and suggested that Spagni was an Interpol informant who fled South Africa with his wife. The article also reports on the response of the longtime Monero (XMR) booster, who denied all the allegations and called Edwards a known scammer.
Some are saying this news should have a negative impact on the Monero (XMR) price because it puts into question the integrity of the entire project. If Monero (XMR) could be easily traced by law enforcement, then there’d be no real utility for Monero (XMR).
With all of the uncertainty about the future of both Arbitrum (ARB) and Monero (XMR), it seems that the TMS Network (TMSN) is a safer bet over the near term, especially with all of the recent examples of why it is so important for users to remain in full control of their crypto keys and not hand them over to third-party custodians.
To find out more about TMS Network (TMSN), check out the links below:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.