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South Korean blockchain game developer Wemade’s WEMIX token surged after it was relisted on local crypto exchange Coinone on Thursday.
Wemade Co. filed an immediate appeal against the court’s Dec. 7 decision that rejected the developer’s request to disallow four of the nation’s largest crypto exchanges from delisting its native cryptocurrency, WEMIX.
S.Korean authorities may mandate companies to pursue direct approval from regulators to list their crypto on local digital assets exchanges.
Wemade, a S.Korean blockchain game maker, announced that it will buyback and burn US$10 million worth of its WEMIX token to stabilize its value.
The South Korean blockchain game maker’s WEMIX cryptocurrency will be removed from the country’s four major cryptocurrency exchanges that collectively account for more than 95% of the country’s crypto trading volume.
A Seoul court has dismissed the injunction filed by Wemade Co. Ltd. to stop four local digital asset exchanges from delisting WEMIX cryptocurrency
Wemade Co. Ltd. said its in talks to have Binance Institutional Services take custody of its native cryptocurrency, WEMIX.
Following a hearing on Friday, the court is expected to finalize its decision on an injunction Wemade filed against four exchanges.
The blockchain game maker fights delisting of its symbolic WEMIX crypto token.
S.Korean Wemade’s stock falls 30% after exchanges announce WEMIX token delisting; CEO blames Upbit exchange
The delisting poses a great obstacle to the game maker’s growing blockchain empire, while Wemade’s CEO blames the crypto exchange
South Korea-based blockchain game developer Wemade is working on a fix for WEMIX after four major crypto exchanges in the country added the cryptocurrency to an “investment warning” list for inaccurately reporting circulation numbers.
A stablecoin that is not stable is an ‘oxymoron,’ said Henry Chang, CEO of South Korea-based blockchain game developer Wemade.