1 year ago
The Digital Asset Exchange Joint Consultative Body (DAXA), the South Korean relation of crypto exchanges, announced connected Nov. 24 that the WEMIX token would beryllium delisted. In justifying the determination to delist WEMIX, the relation claimed the accusation provided by the token’s issuer Wemade is mendacious and has confused investors.
Discrepancy Between WEMIX Circulating Supply and Token Distribution Plan
An relation of South Korean cryptocurrency exchanges, the Digital Asset Exchange Joint Consultative Body (DAXA), announced connected Nov. 24 that the gaming level Wemade’s token — WEMIX — would beryllium delisted. According to DAXA, the determination to delist WEMIX came aft the relation claimed to person recovered a discrepancy betwixt the token’s circulating proviso and the submitted organisation plan.
The announcement by DAXA, which is made up of 5 crypto exchanges, namely: Bithumb, Coinone, Gopax, Korbit, and Upbit, came conscionable days aft immoderate section media reports suggested the delisting determination would beryllium revealed connected Nov. 17. At the time, CEO of Wemade Henry Chang reportedly told token holders that the delisting of WEMIX was not a possibility.
However, arsenic reported by Hankyung publication, DAXA relation members yet decided to region the token from the respective platforms.
“The organisation magnitude exceeding the organisation program submitted by Wemix to DAXA is simply a sizeable magnitude of over-circulation astatine the clip of designation arsenic a informing issue, and it was judged that the grade was significant,” DAXA reportedly said.
Further, the relation accuses Wemade of circulating mendacious accusation and confusing investors by releasing unconfirmed accusation astir WEMIX’s listing status.
At the clip of penning (Nov. 24, 3:00 p.m. EST), WEMIX was down by astir 70% to $0.488 portion the token’s 24-hour traded volumes were conscionable implicit $540 million. Meanwhile, DAXA reportedly said “Wemix’s transaction enactment volition beryllium terminated connected Dec. 8 to support investors.”
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Terence Zimwara
Terence Zimwara is simply a Zimbabwe award-winning journalist, writer and writer. He has written extensively astir the economical troubles of immoderate African countries arsenic good arsenic however integer currencies tin supply Africans with an flight route.
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