Buoyed by XRP court ruling, Sweat Economy goes live in the US

The app will let US users earn tokens by walking and trade them on centralized exchanges

article-image

dennizn/Shutterstock modified by Blockworks

share

The move-to-earn company behind Sweatcoin is bringing its Sweat Wallet on-chain in the US.

American Sweatcoin users are now able to move their SWEAT tokens into the Sweat Wallet app and trade the currency on secondary markets. Sweat Economy’s co-founder said the move came after the company’s legal advisors said SWEAT is safe from being labeled as a security by US regulators.

Sweatcoin takes phone data to count users’ steps, allowing every 1000 steps to be redeemed for one SWEAT. The tokens are currently worth around a cent and are tradeable on Bybit, KuCoin, and OKX, among other exchanges. Users can also earn SWEAT by playing Sweatcoin’s NFT game and staking their SWEAT in “Growth Jars.”

Sweatcoin was founded in 2014 but didn’t go on-chain until last year, when the company, now called Sweat Economy, launched its SWEAT token on the NEAR protocol. The 2022 launch didn’t bring SWEAT to America, however. 

This was because “paranoid” lawyers advised the company against ongoing uncertainty about the legal status of crypto in the US, according to Oleg Fomenko, the Sweat Foundation’s co-founder.

But after Ripple scored a partial court win in its long-running legal fight with the US Securities and Exchange Commission, the company and its lawyers became “100%” certain that SWEAT is not a security. 

A federal court ruled in July that while Ripple’s [XRP] sales to institutions constituted securities offerings, its programmatic sales did not. The case is ongoing. 

Move-to-earn apps have caught flack in the past for their allegedly unsustainable economic models, but Fomenko said that Sweat’s economic structure isn’t based on “ponzinomics.” Sweat, Fomenko argued, spent eight years building out its business before creating a token.

At the time of writing, Sweat Wallet is the #8 financial app on the app store

The US “needs this,” Fomenko added. “Because let’s face it: we [don’t have] an extremely fit population.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

EtherFi, the largest liquid restaking protocol, is repositioning itself as a consumer-facing crypto neobank. Beyond staking, it is building a revenue mix around cards, vaults, and trading, aiming to capture sustainable front-end economics in DeFi. The shift highlights EtherFi’s ambition to expand from infrastructure into a full financial platform.

article-image

Legion’s reputation-based fundraising will expand through Kraken Launch, offering compliant and transparent token sales to global investors

by Blockworks /
article-image

Blockchain protocol introduces XPL token and zero-fee transfers as it targets global stablecoin adoption

by Blockworks /
article-image

With rate cuts priced in and deeper liquidity, it’s not surprising to see certain speculative assets getting a bid

article-image

Lending giant is moving to ERC‑4626 share accounting and preparing to shutter underperforming networks, with 86% of revenue on Ethereum mainnet

article-image

The payments firm introduces a USDC-based app on Stellar, aiming to modernize remittances in volatile currency markets

by Blockworks /
article-image

MarginFi fixed a flaw that could have let attackers borrow funds without repayment

by Blockworks /