The CoinGeek Pulse Episode 19: US Elections 2020, SEC raises crowdfunding limits, Twetch breaches 1M milestone

Getting your Trinity Audio player ready...

The much anticipated 2020 U.S. Presidential Election has come, and gone. In a close battle to the White House, Americans are on the edge of their seats as the race narrows. Who will be the next U.S. President? The announcement is expected soon. 

In the run-up to the election, experts have weighed in on whether Bitcoin and the digital currency industry will see any changes depending on who wins the Presidential race. President Donald Trump in the past has expressed his sentiment on Bitcoin.

In a 2019 tweet, Trump said he’s not a fan of Bitcoin and other digital currencies, claiming, “Unregulated crypto assets can facilitate unlawful behavior including drug trade and other illegal activity.” Meantime, Democratic challenger Joe Biden has not seriously spoken about digital currencies during his presidential campaign. Regardless of who the president is, blockchain experts and a number of economists predict, Bitcoin will be unaffected.

Still in the U.S., here is some welcoming news for start-up companies. The U.S. Securities and Exchange Commission (SEC) has made it easier for digital currency startups to raise funds. 

The securities regulator has raised the crowdfunding offering limit from US$1.07 million to US$5 million. According to SEC, “Anyone can invest in a securities based crowdfunding offering.”

With the newly voted amendment, there will be no limits for accredited investors while non-accredited investors can use their annual income or net worth to calculate investment limits. The move will impact how digital currency companies approach funding strategies. Moreover, digital currency startups can now find other legal avenues to funding, not limited to venture capital.  

In other news, Twetch has passed 1 million transactions. This is considered to be a major milestone for the company, its users and the Bitcoin ecosystem. 

Twetch co-founder Josh Petty said within the last 30 days, the company’s revenue was more than 2019’s revenue, and it keeps on growing. He said, “People are coming back day to day to use Twetch, not just for our posts to the blockchain features and to profit from their content, but people are using Twetch DMs to do business and connect with new people.”

The social media app built on Bitcoin started 18 months ago.