Bitcoin prepaid debit card operator Monaco token plunges Wednesday after a code rewrite removed a key aspect of its roadmap
Holder of his MCO token issued by 70,000 ETH ($ 2.1 mln) crowdsales earlier this year, reacted sharply. At the time of going to press, its value had dropped by more than 37% in 24 hours
In an explanatory video, CEO Kris Marszalek said that "legal" and "commercial" concerns had leads to the decision.
"This decision is excellent for the long-term protection of the value of all token holders," he said in the company's defense.
Monaco had touted the smart asset contract as a key value element for the same potential token holders in the perspective of its ICO in May.
Unsurprisingly, community members reacted with mixed feelings as OLS continued to drop from $ 10.50 on October 31 to $ 6 on Wednesday. He had already reached $ 25 highs.
What are the tokens for? Ahhhh you ripped off the community … you should be ashamed of yourself .. happy to have sold it to the top ??
– Al Sobky (@OmarAlSobky) November 1, 2017
"We believe that the Monaco card program is laying a solid foundation for Monaco's growth, and we are grateful to all partners for their support," Marszalek said in a press release on the Visa revelations
. advance towards Monaco's vision of introducing cryptocurrency on the mass market. "