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Moving Cloud Coin(MCC)

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1 day ago cryptodaily
SEC Charges Justin Sun With Securities Law Violation
Other charges of “wash trading” and “bounty program” have also been brought against the TRON Foundation and its founder by the SEC. TRX Is Unregistered Securities: SEC The U.S. Securities and Exchange Commission (SEC) has recently filed charges of securities law violation against TRON Foundation founder Justin Sun. The lawsuit has also named his other companies - BitTorrent and Rainberry Inc., along with Tron foundation for allegedly conducting the unregistered sale of what the SEC calls “crypto assets securities.” Although none of the court rulings have declared any cryptocurrency to be a security, the SEC has been determined to prove that it is so. The fact that Sun and his companies offered and sold the Tronix (TRX) and BitTorrent (BTT) tokens to the public has rubbed the SEC the wrong way, as it claims that these tokens should have been first registered as securities. Charged With Wash Trading The SEC has also alleged instances of extensive wash trading in these cases, where Sun and his companies tried to “fraudulently manipulate” the secondary market for TRX. This means that the defendants were simultaneously buying and selling the same crypto asset to dupe customers into believing that the platform experiences high volumes of trading activity. According to the regulatory body, employees at TRON Foundation conducted over 600,000 wash trades of TRX between the two accounts controlled by Sun himself. During this period, $4-6 million worth of TRX was washed daily under the direction of the CEO himself. SEC Alleges “Bounty Program” To top it all off, the SEC also charged eight celebrities for promoting the TRX and BTT tokens through an illegal “bounty program.” This means they were incentivized with TRX and BTT distributions to promote the tokens on social media, recruit others to the token’s Telegram and Discord channels, and create BitTorrent accounts. According to the SEC, these paid promotions did not disclose to the public the full nature of the incentivization received by the celebrities, and neither did they disclose the risks associated with such investments. The eight celebrities named in the charges are Lindsay Lohan, Jake Paul, DeAndre Cortez Way (aka Soulja Boy), Austin Mahone, Michele Mason (Kendra Lust), Miles Parks McCollum (Lil Yachty), Shaffer Smith (Ne-Yo), and Aliaune Thiam (Akon). SEC Chair Claims Misconduct SEC Chair Gary Gensler addressed the matter in his latest statement, “As alleged in the complaint, Sun and others used an age-old playbook to mislead and harm investors by first offering securities without complying with registration and disclosure requirements and then manipulating the market for those very securities. At the same time, Sun paid celebrities with millions of social media followers to tout the unregistered offerings, while specifically directing that they not disclose their compensation. This is the very conduct that the federal securities laws were designed to protect against regardless of the labels Sun and others used.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
8 days ago cointelegraph
FTX fiasco set back the approval of Bitcoin spot ETFs: Valkyrie investment chief
The chief investment officer at Valkyrie Investments, Steven McClurg, explains how firms are working around a challenging regulatory environment to bring Bitcoin spot ETFs to the U.S. market.
17 days ago cryptodaily
US Court Questions SEC’s Rejection Of Grayscale’s Bitcoin Fund
The judges at the US Federal Appellate Court questioned the Securities and Exchange Commission’s stance regarding the decision to reject Grayscale Investment’s application for a spot bitcoin exchange-traded fund. A panel of three judges posed significant questions regarding the SEC’s stance on the matter, especially since it had previously approved Bitcoin futures products. SEC’s Position Questioned A panel of US federal appellate court judges has questioned the decision of the Securities and Exchange Commission (SEC) to reject Grayscale Investment’s application for a spot bitcoin exchange-traded fund. The judges observed that the agency had previously approved bitcoin futures products. The Securities and Exchange Commission had, last June, rejected Grayscale Investment LLC’s application to convert its spot Grayscale Bitcoin Trust into an exchange-traded fund (ETF). Justifying its decision, the SEC had stated that the proposal fell short of meeting anti-fraud and investor protection standards. Grayscale was represented by former solicitor general Donald Verrilli Junior, who outlined the problem with the SEC’s decision, stating, “The fundamental problem with the order is that it contradicts previous SEC orders giving the green light to Bitcoin futures ETPs that pose the same risk of fraud and manipulation and have in place the same CME [Chicago Mercantile Exchange] surveillance mechanism to protect against those risks.” Previously, the SEC had approved investment products from a number of firms, including ProShares, Teucrium, VanEck, and Valkyrie, all linked to BTC Futures. As a result, the judges questioned the SEC on Grayscale’s argument, stating that as the regulatory body had approved certain surveillance agreements to prevent fraud in Bitcoin futures-based ETFs, the same should be satisfactory for Grayscale’s spot fund. A judge observed, “It seems like it’s fine for an agency to say okay, we need some more information, but it seems there’s quite a bit of information here on how these markets work together, and the SEC has not offered any explanation... that the petitioners here are wrong.” SEC Pushes Back Appearing for the SEC, senior counsel Emily Parise contested that the offerings in question were not comparable to the Grayscale proposal because the surveillance mechanisms in place are not identical. Parise stated that the underlying assets in the proposed ETF are fragmented and unregulated, unlike the CME, which comes under the ambit of the Commodity Futures and Trading Commission (CFTC). Parise also dismissed the argument that spot and futures markets move together, pointing out that it is yet unclear whether the futures market leads to the spot market when affected by fraud and manipulation or vice versa, calling the evidence mixed at this point in time. For the Grayscale proposal, Parise stated that CME surveillance would only serve as a proxy for the surveillance of the spot markets. A Pivotal Outcome The ongoing case comes at a time when the crypto industry has repeatedly locked horns with the Securities and Exchange Commission over its crackdown on digital assets. The outcome of this specific case could vindicate the SEC’s position or clear a path for other companies to offer spot bitcoin exchange-traded funds if the decision is in favor of Grayscale. There are several other players whose spot bitcoin ETFs were rejected by the SEC. These include SkyBridge Capital, FMR LLC’s Fidelity, and Valkyrie Investments Inc. Steven McClurg, Chief Investment Officer at Valkyrie, believes that a spot bitcoin ETF would not be approved for at least another year. Meanwhile, a Fidelity spokesperson was a little more optimistic, stating that the company was hopeful about having a constructive dialogue with the SEC. Meanwhile, Michael Sonnenshein, Grayscale Chief Executive Officer at Grayscale, stated that he believes a final ruling in the case could be expected by fall and remains hopeful for a favorable outcome. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
28 days ago cryptodaily
BIS Chief: Crypto Has Lost the ‘Battle’ Against Fiat
Agustin Carstens, the head of the Bank for International Settlements (BIS), believes the argument that crypto is an alternative to fiat currency was settled after a very tumultuous year for the digital asset industry in 2022. The BIS has traditionally held a cautious view of Bitcoin and other cryptocurrencies. According to the BIS’s chief, Agustin Carstens, caution is no longer needed as the “battle had been won” between fiat and crypto. During an interview with Bloomberg, the general manager of the BIS said, “technology doesn’t make for trusted money,” among various other criticism of digital assets. Carstens added: “Only the legal, historical infrastructure behind central banks can give great credibility” to money. He furthers he anticipates a “strong statement” from the Group of 20 (G20) for tightened regulation of the digital asset sector. Carstens notes that cryptocurrency is a financial activity that can only exist “under certain conditions.” The BIS, which acts as a central bank for central banks, underscored the dire need for regulation and risk management of the space. However, the comments made by the bank’s chief have provoked a strong reaction from the crypto community. Ray Youssef, CEO of Paxful, told the media outlet Cointelegraph: that it’s “easy to get sucked into these battles but is all a distraction with no ROI.” Adding: We must focus on thebattles in the global southand fight for every inch and every eyeball. What ishappening in Nigeria now is vitalfor us all. Continuing: Want to p*ss the clowns off? Ignore their FUD bait and focus all in on the global south and what is happening on the streets of Nigeria. Many also took to Twitter to offer some corrections to Carstens’ claims. What Bitcoin Did, a popular podcast hosted by Peter McCormack, responded by posting some statistics to counter and correct a further inflammatory statement published by the BIS recently. According to the BIS, from August 2015 to December 2022, “nearly all economies made losses on their Bitcoin holdings.” McCormack jumped at the opportunity to refute the BIS’ claims: BIS analysis: Aug ‘15-Dec ‘22 “majority…in nearly all economies made losses on their #Bitcoin holdings”Facts:-Majority of global fiat lost value to USD since 2015-USD has lost over 26% of its own value due to inflation#Bitcoin has gone up nearly 8000%Facts be sticky — What Bitcoin Did (@WhatBitcoinDid) February 21, 2023 Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
44 days ago zycrypto
Crypto Pundit Labels Shiba Inu, DOGE as ‘Garbage’ — Can Shibarium Prove to be Game Changer for SHIB?
Alex McCurry, the CEO of — a blockchain-based platform for smart contract audit and token development — has taken a potshot at Dogecoin, Shiba Inu, and other meme-inspired cryptocurrencies.
60 days ago cryptodaily
Cardano Network Back Online After Brief Node Outage
The Cardano Network encountered a brief outage on Sunday, occurring between block 8300569 and block 8300570. The outage impacted over 50% of the network. However, the network was quick to recover, with the problem solved automatically, allowing the network to be back online within minutes. Cardano’s Brief Outage The Cardano network suffered a brief outage on Sunday, impacting over 50% of the network’s nodes. However, the outage barely caused any disruption and was automatically fixed within minutes. Rick McCracken, stake pool operator and developer building staking tools for Cardano, discussed the issue and assured the community that the entire network was not impacted. He gave the reason behind the outage as an “anomaly,” which caused over 50% of the nodes to disconnect from the network and restart. However, the cause of the outage has not been determined as yet. Several developers flagged the issue on GitHub, stating that block production was impacted for a few minutes. However, they added that all nodes disconnected and restarted automatically. McCracken tweeted, “There was a brief period of degradation. Most nodes impacted had gracefully recovered. No network restart was required.” A Transient Anomaly The Telegram SPO for Input Output Global, the entity behind the Cardano blockchain, revealed that the outage appeared to have been triggered by a transient anomaly. “This appears to have been triggered by a transient anomaly causing one of the two reactions in the node; some disconnected from a peer, and others threw an exception and restarted. Such transient issues (even if they were to affect all nodes) were considered in the design of the Cardano node and consensus. The systems behaved exactly as expected.” Input Output Global also stated that the impact of the outage was low, affecting only relay and block-producing nodes. It stated that Edge nodes appeared to be functioning as expected. Outages On Other Networks There have been several instances of blockchain nodes going offline on other networks as well. The most prominent example is that of Solana, which has suffered a considerable number of outages in the recent past. One such outage took the network down for over seven hours. In another such instance, the Solana network had to be restarted to address a network stoppage. There are several reasons why a node or several nodes could fail, ranging from an overload of activity and transactions on the network to a faulty code. A quick fix to such faults indicates robust fundamentals for the network, which was the case with the Cardano outage. The quick fix led several members of the Cardano community to point to the resilience of the blockchain and cite it as one of the reasons the Cardano blockchain is better than Solana, which had faced multiple outages in 2022. A Resilient Network This view was echoed by SundaeSwap CTO Pi Lanningham, who tweeted, “The real takeaway for me is how impressively resilient the Cardano network is. Something took down ~60% of nodes, and the network recovered in a few minutes and continued producing blocks throughout.” SundaeSwap is a Cardano-powered decentralized exchange (DEX) and automated liquidity provision protocol. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
64 days ago cryptodaily
NFT Collection Meme Ltd. Price, Stats, and Review
Meme is an experimental protocol mashing up some of the most exciting innovations in DeFi and crypto collectibles. Put your $MEME to work by farming exclusive NFT memes. Stake LP tokens for access to our batch of legendary cards. The total number of owners has reached 8490. NFT Collection Meme Ltd. Price and Sales The market capitalization of Meme Ltd. NFT collection is 4.63 ETH. For all time, 10,846 collections sales were made at an average price of 0.45 ETH (~$682.09 at the time of writing). This created a total volume in 4,829.312 ETH. The floor price of Meme Ltd. is 0.001 and the 30-day trading volume is kept at 2.51 ETH. The payment tokens of the Meme Ltd. collection are ETH, DAI, WETH, USDC, APE. Meme Ltd. traits list Birthday Min 1598450400 Max 1616882400 Created Min 1598450400 Max 1635566754 Created Min 1607724000 Max 1617298620 Rug Pull Date Min 1609019897 Max 1609023024 Artist 0xb1 1 Alon goren 2 Amrit pal singh 4 Animus 2 Animus collective 7 Anon 1 Anthony sims 4 Auroraxxxx 1 Aymeric 14 Badgerdao 6 Baugasm 4 Bigcomicart 7 Bitcoin origins 8 Blockchain heroes 4 @boplait 1 Bug 1 @carboncell 1 Chris potter 13 Cometh 4 @cryptomemez 1 Daniel gnattali @mafriends 4 David kaye 2 Diego rodriguez 8 Dominic glover 2 @drawingenough 1 Dutchtide 4 @eggandchorizo 1 Emotionull 4 Exitsimulation 4 Felipe duarte 3 Frank wilder 8 Fvckrender 3 George miller 3 Giusy amoroso 4 Graffiti kings 4 Hollow da don 4 James mcdermott 4 @jbetcom 1 Jc rivera 5 J.n. silva 1 Jonathan wolfe 8 Jon noorlander 10 Jose delbo 1 Junkyard 5 Kevin rupp 3 Kitty bast 4 Kristy glas 5 La blockchain summit 1 @lala2777 1 Lucas guzman 4 @lushux 4 Mafriends 6 Marble mannequin 4 Matt szczur 3 Meme limited 39 Nahiko 4 Nathan head 8 Nibble bits 4 Odious 3 Parrott_ism 3 Polychain monsters 4 Ponygirl 5 @pranksynft 2 Raf grassetti 4 Rare designer 9 Redbullron 4 Rektme rev 17 Remo 17 Robert bowen 3 Sadsie 5 @samjackgilmore 1 Simon wan 22 Sinclair 4 Sp 1 Spongenuity 8 Sven eberwein 5 Terra virtua 3 The block times 43 The dingleberries x kenn bosak 2 Tokblok 4 Trippyogi 4 Twerky club 4 Tye died 4 Tyler russo 3 Tyrone doyle 5 Vans design 4 Vansdesign 4 Vegard aarhus 4 @veronizhuk 1 Witch vs. warlock 15 Wizard skull 4 Wooden cyclops 4 Yop 3 Max Supply 1 144 10 114 100 59 1000 13 10000 1 12 7 15 5 17 1 20 8 200 1 21 21 25 15 250 23 2500 3 2650 1 30 2 33 4 35 2 355 1 40 2 42 1 5 8 50 40 500 14 5000 1 52 6 60 2 7 7 70 2 75 4 88888 3 9 1 Rarity Common 2 Epic 1 Gilded 10 Legendary 9 Limited 8 Lore 2 Rare 7 Standard 9 Wild card 2 Rarity Common 12 Legendary 9 Rare 8 Relic 6 Wild card 3 Rekt By 0x1d5e65a087ebc3d03a294412e46ce5d6882969f4 1 0x357404a138a35deb90458e4f8c630c7db4b3a781 10 Set 0xb1 nft competition 17 Airdrop to stakers - 30 day anniversary 1 Artist auction 0 - sven 1 Artist drop 0 - sven 3 Artist drop 10 - wizard skull 3 Artist drop 11 - trippyogi 4 Artist drop 12 - aymeric 3 Artist drop 12 - tye died 3 Artist drop 13 - sinclair 3 Artist drop 14 - frank wilder 3 Artist drop 15 - exitsimulation 4 Artist drop 17 - remo 4 Artist drop 18 - odious 1 Artist drop 1 - vans 4 Artist drop 2 - jon 9 Artist drop 3 - diego rodriguez 7 Artist drop 4 - bigcomicart 3 Artist drop 5 - spongenuity 2 Artist drop 6 - theblocktimes 2 Artist drop 7 - jonathan wolfe 2 Artist drop 9 - aymeric 3 Badger dao 1 Badger dao 2 2 Bitcoin origins 6 Cometh 4 Don't buy meme 1 Event drop 0 - la blockchain summit 2 Genesis 10 Genesis - lp 7 Jonathan wolfe 3 Primedao 6 Rug pull 12 Special artist - jose delbo 1 Special auction - the meme mob 1 Terra virtua 3 The block times 4 Yop 1 Tag $coin 2 $meme 1 2d 4 Aave 2 Abstract 16 Animals 4 Animation 13 Animus 1 Architecture 4 Art 3 Bear 4 Binance 1 Book 1 Canvas 2 Capitulation 1 Cartoon 7 Chainlink 2 Character 31 Cubism 1 Demon 1 Design 9 Elements 4 Emotional 3 Everydays 1 Face 4 Fine art 6 Fvckrender 3 Game 4 Gremlins 3 Halloween 1 Hero 4 History 36 Inspiration 1 J.n. silva 5 Landscape 1 Lore 2 Media 9 Meme 1 Memenator 1 Metaverse 4 Model 1 Monster 4 Music 6 New school 4 Nft 13 Painting 12 Panel 1 Paradise 8 Pepe 4 Philosophy 6 Physical 1 Pineapple 1 Portrait 1 Poster 4 Propaganda 1 Provocative 4 Punk 1 Rap 4 Redeemable 2 Sharpies 2 Sketch 1 Statue 1 Story 2 Street art 4 Sushiswap 2 Synthetix 1 Toy 3 Travis scott dunk 4 Tweet 1 Uniswap 1 Video 3 Visual effects 4 Warhol 1 Whimsical 5 Yfi 1 Tag Abstract 16 Action figure 2 Alpha 3 Badger 3 Binance 2 Bitcoin 12 Cars 4 Chainlink 1 Comic 2 Compound 3 Emotion 4 Ethereum 6 Fine art 37 Gaming 4 Genesis 1 Halloween 1 La blockchain summit 3 Matrix 1 Meme 3 Memeboi 1 Mouse 4 Newspaper 4 Painting 2 Party 4 Peter mccormack 1 Pineapple 1 Pranksy 1 Profile 4 Psychedelic 4 Rook 3 Starmeme 4 Super hero 1 Sushiswap 1 Synthetix 2 Uni 3 Uniswap 2 Yax 3 Yfi 2 Yfl 3 Type 3d 20 Abstract 1 Animation 9 Animus 7 Anon 8 Audio visual 20 Canvas 1 Cartoon 6 Cat 3 Cats 5 Character 4 Color 3 Comics 10 Community 1 Cryptochips 4 Crypto influencers 13 Dance 4 Dark 5 Environment 4 Expression 4 Faction 2 Genesis 1 Graffiti 4 Homage 4 Illustration" 1 Lightwork 2 Machine 3 Media 5 Music 15 Newspaper 36 Objects 5 Photography 14 Physical 4 Pineapple 1 Plein air 12 Polychain 4 Portrait 7 Psychedelic 3 Retrowave 4 Sculpture 6 Skull 3 Sneakers 4 Spiritual 6 Tattoo 3 Toy 4 Trading card 4 Twitter 1 Vibrant 3 Wild card 2 Wvw card 13 Type 2d 8 3d 24 Abstract 4 Algorithmic 4 Animation 5 Bots 3 Canvas 1 Comics 8 Crypto influencers 26 Defi 18 Digital collectible 3 Digital ticket 3 Events 3 Fine art 7 Gaming 4 Illustration 7 Image 8 Mp4 11 Multimedia 9 Relic 5 Sculpture 7 Video 12 Wild card 3 Meme Ltd. fees Buyer fee to dev: 0 basis points Seller fee to dev: 600 basis points Buyer fee to 0 basis points Seller fee to 250 basis points Buyer fee: 0 basis points Seller fee: 850 basis points Meme Ltd. editors list The approved editor's accounts of Meme Ltd. collection are 0xfabae3330992f4ccb388497bc44d03dc897cca84, 0x73f2e04f047931e85b62e4f2652b156199000e14. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
67 days ago cryptodaily
Greyscale appeals “arbitrary” SEC decision to deny ETF
Grayscale, the world's largest bitcoin-only investment vehicle, has once again attempted to convince the US Securities and Exchange Commission (SEC) to allow conversion of the Grayscale Bitcoin Trust (GBTC) into a spot exchange-traded fund (ETF). Many and varied are the applications for a Bitcoin exchange traded fund (ETF), but despite the carefully lodged protests by some of the applicants, including Greyscale, the SEC has always denied a Bitcoin ETF, stating that investors would not be adequately protected. According to an article in Proactive Investors, a new Grayscale appeal, termed the SEC’s refusal as “arbitrary to its core” and “illogical” given that the SEC hadn’t had a problem in approving futures ETFs. The Grayscale petition stated that the SEC's decision should be held unlawful and set aside. The main problem with GBTC is that the shares cannot be redeemed, leaving investors with only one option, of selling them on to a willing buyer. Over time, the shares have underperformed against the underlying bitcoin, and have shown a very large negative discount. However, with Bitcoin rising over recent times, the gap has narrowed somewhat. Osprey Funds, the controlling shareholder of Grayscale’s parent company Digital Currency Group (DCG) has made a bid to take over as the trust’s sponsor and has made several recommendations. These include slashing the management fee to 0.49%, and cleaning up the expense structure of the fund which contains significant conflicts of interest, seeking to implement a redemption program as soon as possible, and pursuing a listing on the New York Stock Exchange. Valkyrie Investments is also interested in taking over as the sponsor of GBTC, and co-founder Steven McClurg was quoted by Proactive Investor as saying: “We understand that Grayscale has played an important role in the development and growth of the bitcoin ecosystem with the launch of GBTC, and we respect the team and the work that they have done. “However, in light of recent events involving Grayscale and its family of affiliated companies, it is time for a change. Valkyrie is the best company to manage GBTC to ensure its investors are treated fairly.” It remains to be seen what actions Grayscale and DCG will take in response to the pressure they are facing, but it is clear that something needs to be done to protect the interests of GBTC investors. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
67 days ago cryptodaily
California Cannabis Growers Adopts Blockchain to Track Plants
A California-based cannabis seed bank has turned to blockchain technology and smart contracts to verify the efficacy of its medicinal plants. Mendocino Clone Company (MCC), a cannabis nursery, has turned to blockchain technology and smart contracts to verify the authenticity of the therapeutic plants they sell. Through blockchain, the company will be able to certify all baby plants, also referred to as clones, with a batch certificate. Mendocino entered a partnership with the EMTRI project, a decentralised cannabis supply chain community, and technology firm Global Compliance Applications to make the project possible. Cannabis nurseries, or seed banks, are organizations that focus on plant genetics and produce clones, baby plants, and seeds for wholesale distribution. According to a blog post by Global Compliance: This innovative move allows the nursery to document the beginning stages of a cannabis plant's journey to becoming a premium product for consumers based on the gram weight it flowers. Jed Davis, CEO of MCC said: At Mendocino Clone Company, we are always looking for ways to innovate and improve the quality of our products. We believe that by joining the EMTRI decentralized community, we can provide an additional level of transparency and trust for our customers. The batch certificate is a self-generated smart contract for clone batch and provides each baby plant with its own “unique identity block,” which is created by the nursery and linked to its Ethereum-based blockchain according to reports by Cointelegraph. The nursery’s clients which include commercial farms and retail dispensaries can then use the batch certificates to verify the authenticity of their clones and their genetic lineage. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
84 days ago cryptodaily
Valkyrie Submits Proposal To Manage Grayscale’s Bitcoin Trust
Crypto Assets Manager Valkyrie Investments has unveiled a proposal to become the sponsor and manager of the Grayscale Bitcoin Trust. The Grayscale Bitcoin Trust (GBTC) is the world’s largest Bitcoin fund and has been trading at a record discount compared to the price of BTC. The Valkyrie Proposal In a blog post published this week, Valkyrie Investments proposed becoming the sponsor and manager of the Grayscale Bitcoin Trust, which will see the company manage its much larger rival. The Nashville-based asset manager, which manages around $180 million in assets, announced the launch of the Valkyrie Opportunistic Fund, which is looking to take advantage of the significant discount in the value of the Grayscale Bitcoin Trust. The plan is considered extremely ambitious, considering the fact that the Grayscale Bitcoin Trust manages over $10 billion in assets, compared to Valkyrie’s $180 million. The Valkyrie fund plans to increase its holdings of GBTC, enabling the company to realize the true value of the underlying Bitcoin for its investors. In a letter posted on its website, co-founder and CIO of Valkyrie Investments, Steven McClurg, stated, “We understand that Grayscale has played an important role in the development and growth of the Bitcoin ecosystem with the launch of GBTC, and we respect the team and the work that they have done. However, in light of recent events involving Grayscale and its family of affiliated companies, it is time for a change. Valkyrie is the best company to manage GBTC to ensure its investors are treated fairly.” A Long Shot? In the proposal, Valkyrie highlighted several ways through which they aim to improve the current management of GBTC. The fund stated that it aims to facilitate redemptions at a net asset value (NAV) for investors through a Regulation M filing, allowing investors to redeem their shares at a fair price. The proposal also seeks to lower the fee to 75 basis points, compared to the current 200 basis points, and offer redemptions in BTC and cash. However, a move to manage and sponsor the trust could be a long shot, considering Grayscale filings have stated that shareholders can play no part in the management or control of the trust. Additionally, they also have limited voting rights. It also states that no amendments to the trust agreement that could impact the interest of shareholders can be made without a vote of at least a majority (50%) of the shares. Valkyrie also noted that it has a proven track record of success, running its own Bitcoin Trust since January 2021. It added that it has launched a host of Bitcoin-related ETFs and was, along with VanEck and ProShares, one of the firms to launch the first Bitcoin futures ETFs in 2021. Trading Below Value Currently, the Grayscale Bitcoin Trust is trading around 50% below the value of the Bitcoin it holds. This is because of the structure of the GBTC, where while new shares can be created, they cannot be destroyed as demand for the trust’s underlying Bitcoin faces a bit of a downturn, leading to a discount in the net asset value. On its part, Grayscale tried to convert the GBTC into an exchange-traded fund (ETF) which would allow for share redemptions. However, the Securities and Exchange Commission (SEC) denied the application to convert GBTC into a spot bitcoin ETF. Grayscale was highly critical of the move by the SEC, calling it arbitrary, capricious, and discriminatory, and filed a lawsuit against the agency. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
92 days ago cryptopotato
Peter McCormack Vs Craig Wright: CSW Has Not Established He is Satoshi
The judgment clarifies Craig Wright has not established that he is the inventor of Bitcoin - Satoshi Nakamoto.
93 days ago coindesk
Craig Wright v. Peter McCormack: Judge Rules McCormack Should Pay Around $1.1M in Costs
Wright had argued that McCormack should pay the majority of costs for the legal proceedings, but then accepted to pay all McCormack's costs save for those ruled in Wright's favor.
104 days ago zycrypto
Revealed: Sam Bankman-Fried Secretly Loaned Crypto News Site The Block And Its CEO $43 Million
The FTX debacle keeps taking unexpected turns. A bombshell report has revealed that Sam Bankman-Fried’s Alameda Research secretly provided The Block and its ex-CEO, Michael McCaffrey, with at least $43 million in funding over the past year and a half. Bobby Moran, The Block’s chief revenue officer, has announced he will be assuming the position […]
104 days ago cryptodaily
Crypto news platform The Block was secretly funded by FTX
It’s come to light that leading crypto news platform The Block was secretly funded by Sam Bankman-Fried’s FTX for more than a year. For a crypto news platform that led the industry with transparency and a fervent pursuit of truth and justice, this must be a bitter pill to swallow for the management and journalists who were not aware of secret loans channelled through SBF’s Alameda Research. The Block CEO Michael McCaffrey has resigned from the company following the news and he has also stepped down from the board. Meanwhile the shock and disbelief continues to be exhibited on social media channels. Frank Chaparro, Editor of The Block, was particularly scathing of the actions of McCaffrey, saying that he was gutted by the news. 1) I'm absolutely gutted by this news, which was briefed to the company this afternoon.Underpinning my shock are feelings of utter disgust and betrayal by Mike’s actions, greed, lack of disclosure. He's literal scum. He kept every single one of us in the dark. — Frank Chaparro (@fintechfrank) December 9, 2022 Bobby Moran, the Chief Revenue Officer at The Block, published a Medium post on Friday announcing that he had assumed the role of CEO following McCaffrey’s resignation. He also expressed his disappointment at what had transpired. “This news came as both a shock and disappointment to The Block leadership team. Mike’s decision to take out a loan from SBF and not disclose that information demonstrates a serious lack of judgment. It undermines The Block’s reputation and credibility, especially that of our reporters and researchers, as well as our efforts at industry-leading transparency.” He added that neither he nor anyone else at The Block had any knowledge of the loan arrangement from Alameda and he maintained that he had seen no evidence that there was any bias in The Block’s reporting of SBF, FTX or Alameda. Mike Dudas, co-founder and ex-CEO of The Block, was also shocked and offered a harsh criticism of McCaffrey’s dealings with Sam Bankman-Fried. The Block's new CEO Bobby Moran evidently knew about the $43m in SBF loans *before* Thanksgiving but told employees about it today?McCaffrey never told me once that SBF was involved in any transaction related to The Block, nor did SBF.These two sociopaths deserved each other. — Mike Dudas (⛳️,
105 days ago cointelegraph
CEO of crypto news site The Block resigns for failing to disclose $27M loans from Alameda Research
New CEO Bobby Moran said there was no evidence that Mike McCaffrey had "improperly" influenced coverage of Sam Bankman-Fried, FTX, and Alameda Research on the news site.
105 days ago coindesk
Sam Bankman-Fried’s Alameda Research Secretly Funded Crypto Media Site The Block and Its CEO
CEO Michael McCaffrey has resigned as a result of the loans coming to light, The Block confirmed.
128 days ago cryptodaily
Deus ex Machina: Züs Arrives to Solve Web3’s Big Data Problem with the Future of Decentralized Storage
Cupertino, CA, 17th November, 2022, ChainwiredStorage leader 0Chain becomes Züs, offering lightning fast solutions for DeFi NFTs, and the Future of Web Emerging from dStorage leader 0Chain, Züs arrives at the perfect time to solve one of the major problems facing Web3: how can a decentralized internet rely so heavily on centralized cloud data solutions? Züs, an open source protocol, is a high-performance, lightning-fast decentralized storage network which will open the door to the limitless possibilities of Web3. Züs, the God of the Sky, will finally take Web3 beyond the cloud. As blockchain technology continues to evolve, so does how people and businesses use it. With Web3 now manifesting in full, an unprecedented amount of data, including sensitive personal, financial, and health data, is expected to aggregate. Yet much of the decentralized internet continues to operate on centralized cloud servers. Züs heralds a new era in how data is stored and accessed, creating a powerful economic catalyst for a new “cloud” industry. “0Chain has evolved from a blockchain technology, a journey we embarked on 5 years ago, to a cloud solution platform that empowers people and businesses to be limitless,” said Saswata Basu, CEO. “Züs is ready to power the full arrival of Web3.” 0Chain’s vision has always been to empower people with access to and control over their own data. The change to Züs reflects the increased power of the chain through product development and economic model maturation, and symbolizes the company’s deep commitment to the Greek principles of fair and open governance. Züs’s unique decentralized storage platform opens the door for people and businesses to be limitless, and enables small business growth and passive income for individuals. Differentiating it from previous dStorage protocols, Züs is able to match AWS S3 performance. While platforms like Filecoin and IPFS are good for archival storage, their slower-than-average transaction speeds present long term limits for Web3 storage. Züs solves this problem through its parallel architecture, which has the benefits of better security, privacy, availability, and cost transparency. Züs is also pleased to announce an ecosystem of dApps that will be available soon. Enabling limitless privacy, security, resiliency, and creativity, these dApps will revolutionize how individuals and businesses store and access their data, how NFT creators can enhance their asset value, and how DeFi can be de-risked. To learn more about how Züs can empower you or your business follow @Zus_Network on Twitter or visit their website . ### About Züs Züs (formerly 0Chain) is a new way to store data and provide storage, build apps, enhance NFT value, and earn a living from storage income.ContactPress ContactAyele McCarthyZü[email protected](240) 280-4387
135 days ago zycrypto
Cathie Wood reveals her first BTC investment is in over $7 million of unrealized profit
Cathie Wood, the founder, CEO and CIO of ARK Invest, has revealed that she first bought $100,000 worth of BTC at a price of around $250 back in 2015 and has held it until now — putting the investment in massive unrealized profit of over $7.6 million. In an interview with Peter McCormack, the host […]

About Moving Cloud Coin?

The live price of Moving Cloud Coin (MCC) today is ? USD, and with the current circulating supply of Moving Cloud Coin at ? MCC, its market capitalization stands at ? USD. In the last 24 hours MCC price has moved ? USD or 0.00% while ? USD worth of MCC has been traded on various exchanges. The current valuation of MCC puts it at #2326 in cryptocurrency rankings based on market capitalization.

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