Cryptocurrency investors need to be more cautious, especially with the current surge in news flow. A recent application in Delaware has surfaced on social media. Investors should be extremely careful as we have seen similar stories before.
TAO ETF Claim
TAO Coin is reportedly registered for an ETF by Grayscale. Previously, a similar fake registration was made for XRP Coin on behalf of BlackRock. An investigation followed, but the XRP Coin price experienced significant losses after a rapid rise during the process. The cryptocurrency markets also largely missed their general uptrend due to this chaotic event.
Upon checking the file number recently as COINTURK, we found such an application. TAO Coin’s price rose from $420 to $454.5 following the news. However, initiating an ETF process for TAO Coin in the current environment seems neither logical nor reasonable, and as we remember from the XRP Coin example, such fake applications can occur.
