Digital Asset Exchanges Joint Advisory Council (DAXA), The Korean Cryptocurrency Exchange Association announced the delisting of the WEMIX token on November 24th. In justifying its decision to delist WEMIX, the association claimed that the information provided by its token issuer, Wemade, was erroneous and confusing to investors.
Discrepancy between WEMIX circulation supply and token distribution plan
The Digital Asset Exchange Joint Consultative Body (DAXA), an association of cryptocurrency exchanges in South Korea, announced on November 24 that , WEMIX, the token of gaming platform Wemade, will be delisted. According to DAXA, the decision to delist WEMIX came after the association claimed it found a discrepancy between the token’s circulation supply and the submitted distribution plan.
An announcement by DAXA, which consists of five cryptocurrency exchanges namely Bithumb, Coinone, Gopax, Korbit and Upbit, has indicated that the delisting decision will be made public in November. It took place days after the media suggested. 17. At the time,, the CEO of Wemade Henry Chang , reportedly told token holders that he could not delist WEMIX.
However, members of the DAXA Association eventually decided to remove the tokens from their respective platforms, ashe reported by Hankyung publications.
“The amount of delivery in excess of the delivery plan that Wemix submitted to his DAXA was a significant amount of over-distribution at the time it was designated as a warning issue, and the extent was determined to be significant. ” he said, DAXA reports.
Furthermore, the association has accused Wemade of disseminating false information and misleading investors by publishing unconfirmed information regarding the listing status of his WEMIX. accused of causing confusion.
As of this writing (Nov 24, 3pm EST), WEMIX has dropped nearly 70% to $0.488 for him, but his 24-hour trading of tokens The amount he was just over $540 million. Meanwhile, DAXA was quoted as saying, “Wemix trading support will end on December 8 to protect investors.”
Image Credits: Shutterstock, Pixabay, Wiki Commons