Progress Update! MCO Card Issuer Wirecard: €1.9 Billion May Have Never Existed Initially

Recently, the European issuing bank Wirecard for the MCO VISA cryptocurrency debit card revealed that 1.9 billion euros in their accounts could not be verified, suggesting potential internal accounting fraud. CEO Markus Braun promptly resigned. On the 22nd, Reuters reported that Wirecard stated in a recent announcement: "The 1.9 billion euros may have never existed in the first place." (Wirecard filed for bankruptcy on 6/25)

Crypto.com Surges Instead of Plunging, Market Cap Nears EOS

The parent company of MCO Visa card, Crypto.com, has a comprehensive business model covering investment, savings, and spending, and has risen to become the tenth largest in the cryptocurrency market. Following the Wirecard scandal, the CEO of Crypto.com promptly reassured that all cards issued by them have 100% reserve funds, and user funds are not held by that bank, thus remaining unaffected.

With reports of the company launching a derivatives exchange, the token price and market cap of Crypto.com are expected to reach new highs. In the past month, the market cap of Crypto.com's cryptocurrency CRO has approached the ninth-placed EOS, with a reported return on investment (ROI) of 506% according to CoinMarketCap data.