WINk (WIN) IEO: Why Traders See a Scam

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WINk (WIN), the latest Binance IEO, keeps inviting skepticism. The asset, which was sold at rock-bottom prices of 1 Satoshi, is currently going through a price discovery stage, as the price only reached 4 Satoshi before tanking again. Currently, WIN is thinly traded, with a price even lower at 3 Satoshi. The extremely low price is raising doubts whether WIN is viable. The WINk project is essentially a set of TRON-based casino games, also raising doubts about regulatory and legal issues concerning the ownership of WIN tokens. The tokens can be frozen to receive passive rewards, raising issues of considering WIN an unregistered security. https://twitter.com/MustacheTommy/status/1156981690784350208While US buyers were originally banned from the IEO, and Binance is aiming to curb trading for US buyers, the asset is still accessible to US residents on secondary markets. The biggest problem, however, is the illiquid trading and the skepticism about the project. WIN trading…

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