DAXA Delist Wemix Due to False Information, Drops 70%

  • Digital Asset eXchange Alliance (DAXA) will delist WEMIX
  • WEMIX team does not agree with the unreasonable decision made by the DAXA
  • WEMIX’s price crashed to 70.8%

The biggest cryptocurrency exchanges in South Korea have declared they will delist WEMIX (WEMIX), the native token of blockchain platform Wemix owned by gaming company Wemade, on the grounds that the company presented “false information” in response to an investment warning it was given.

The Digital Asset eXchange Alliance (DAXA), which is made up of the companies Bithumb, Upbeat, Coinone, Korbit, and Gopax, announced on November 24 that they would stop contract support for WEMIX, with trade ending on December 8.

Wemix promised to cooperate with DAXA to allay their concerns after DAXA claimed that there was significantly more WEMIX in circulation than Wemix had stated in the investment alert published on October 27.

Following the announcement of the delisting, WEMIX Communication issued a statement claiming to have truly addressed the requests and worries expressed by DAXA and to have addressed several instances where they felt the group’s circulating supply had been overestimated.

Added were, “The WEMIX team does not acknowledge or agree with the unreasonable decision made by the Digital Asset eXchange Alliance (DAXA).”

Becoming flagged with an “Investment Warning” from DAXA has made us reflect on the fact that our internal operations were not fully systematic, and we believe that, through this process, we established and improved our internal management system throughout the process.

Following the news, WEMIX’s price crashed and is currently trading at $0.52 — a decline of 68.4%.

In other news, Changpeng “CZ” Zhao, CEO of Binance, claimed on BloombergTV that his company is mistakenly thought to be Chinese because he looks Chinese. The CEO says, “Binance is not a Chinese company; we are not related to China at all.”

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José is a crypto enthusiast who trades crypto night and day. He loves to share his trading stories and experiences in all his published articles. José likes to hang out and travel to meet new friends. Enjoys sushi, vodka, and tequila.