Hi Reddit,I could use a bit of help in understanding the current MCO situation. Perhaps someone whos quite good at eth chain analysis or ICO law can help me understand.Given the following scenario:Monaco issues ICO token MCO.Monaco uses proceeds from ICO to purchase and become crypto.comCrypto.com traditionally holds millions of MCO in its hot wallet, buying and selling on the open market. (See attached hot wallet balance chart to this post)Crypto.com decides to remove MCO internally by issuing a buy-back (swap) program.In the months leading up to the buy-back announcement, crypto.com elects to stop buying MCO on the open market and liquidate millions from their hot wallet.Given crypto.com's internal knowledge of upcoming closed market buy-back program it:Liquidates MCO at higher than normal rateStops purchasing MCO on the open marketIs the above scenario a financial crime? If not, why, if so why?Crypto.com hot wallet link: https://ift.tt/2Xv6VG6 of large move into Binance: https://ift.tt/2XtWNgE
Submitted August 05, 2020 at 08:10AM
No comments:
Post a Comment