The 8th largest coin by market cap, TRON is running away with the gains today. According to coinmarketcap.com, TRX is up over 12% on the day, selling for just under $0.03 USD.
The reason for its bull run is a somewhat tongue-in-cheek new hiring. The blockchain platform has hired a former US Securities and Exchange Commission (SEC) supervisory attorney as its first chief compliance officer.
Anyone else finding this news ironically wonderful?
TRON made the announcement earlier today.
TRON Hires Former SEC Attorney
David Labhart, who used to work for the SEC as an attorney, is also being given the task of co-general counsel at TRON.
The company is deemed somewhat controversial mostly thanks to the publicity stunts of CEO Justin Sun. 2018 has been a good year for the blockchain, however, and it has grown steeply; it currently boasts over 1 million registered users. TRON is often considered a rival to the Ethereum blockchain in particular, as both focus strongly on dApp support. It was built as an alternative token development platform to Ethereum. As such, Sun regularly hits out at the Ethereum network.
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TRX has climbed steadily this week, but today’s gains make it the best daily performer in the top ten.
Cryptocurrency regulation is no joke in the US. The ambiguous restrictions surrounding cryptocurrency make it increasingly difficult to trade in the assets. The issue lies with the true ‘class’ of digital coins as the Government body does not consider them viable securities.
The SEC has shut down hundreds of ICOs purporting to launch new coins into the space as a result
So it’s a tad ironic that TRON’s latest employee is a former SEC official. It is a very fitting action made by a controversial brand and surely has been done to make a point.
It wouldn’t be worth it if it didn’t raise a few eyebrows after all!
Featured Image: Depositphotos © Primakov