Possibly the biggest presale of the year, Big Eyes Coin is a meme coin that has attracted substantial investment inflows. The cat-centric cryptocurrency has raised $27.17 million in its fast-moving presale, bolstered by a recent deposit of $250,000. Based on its current trajectory, Big Eyes Coin is poised to raise $50 million – its final goal – in a short time frame.
Big Eyes Coin boasts a list of features crafted to keep its investors and community members happy. Anyone who makes a purchase can expect to gain access to NFTs from an exclusive Sushi club; receive regular airdrops in tokens and collectibles; and buy feline-themed items from a superstore that is coming soon.
This exciting cryptocurrency is not just an investment for profit. Big Eyes Coin wants to create a positive environmental footprint through its initiative to repair the ocean’s ecosystem. To achieve this, 5% of all tokens will be stored in a charity wallet and donated to organizations such as Orca Network, Fundlife International, and Seashepherd.
The presale is currently in its 11th stage of funding. Investors still can earn a hefty return on investment through the promo code “LAUNCHBIGEYES200”, which gives a 200% bonus in Big Eyes Coin with your purchase.
Binance and Paxos Under Regulatory Scrutiny From SEC
It’s been a tough week for cryptocurrency, particularly stablecoins, as major crypto exchanges hold their own against heavy regulation from U.S entities.
Citing “unresolved issues”, Regulators in New York ordered blockchain platform Paxos to stop issuing BUSD, the stablecoin created by the largest cryptocurrency exchange, Binance. The SEC is going to sue Paxos with allegations that BUSD should have been registered as a security before its issuance.
Paxos responded through its statement on Monday, saying that BUSD is not a security under federal securities laws.
Current Paxos customers who hold BUSD will be able to redeem them through February 2024 for U.S. dollars or Pax Dollar, another stablecoin issued by the company.
Binance and Paxos have an intertwined fate because BUSD has been backed by Paxos through reserves since 2019. Paxos will no longer issue Binance’s stablecoins but will use the reserves backing them to redeem assets perhaps in a new form of crypto or just plain cash.
We’re already seeing a shift from Paxos and Binance to other stablecoins like Tether. On Wednesday 15th of February), Tether reported a jump in market cap to $69.23 billion from $68.47 billion on Tuesday (14th of February).
In the same week, BUSD issued by Paxos went from $16.14 billion on Monday to $15.46 billion on Tuesday. It is unclear if this trend will continue.
Stablecoins usually are risk-free investments since they are pegged to the U.S. dollar or other fiat currencies. But issues such as the one above create shifting preferences for stablecoins based on popularity. In rare cases, investors have to go through the pain of losing their money even in a stablecoin. TerraUSD – a stablecoin once valued in the billions and now non-existent – is a memorable instance of that.
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
