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Microsoft-Backed WEMIX Falls 68%, Getting Delisted by Five Top Exchanges

Thu, 11/24/2022 - 15:29
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Yuri Molchan
Five major exchanges are delisting WEMIX, whose company Wemade was invested in by Microsoft
Microsoft-Backed WEMIX Falls 68%, Getting Delisted by Five Top Exchanges
Cover image via stock.adobe.com

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Crypto blogger Colin Wu has announced that five major exchanges in South Korea are delisting WEMIX token. This gaming platform has the Microsoft giant among its investors.

South Korean Digital Asset eXchange Alliance (DAXA), which consists of such platforms as Upbit, Bithumb, Coinone, Korbit and Gopax, has found out that creators of WEMIX token provided it with false information before the listing. These platforms will stop trading this coin on Dec. 8.

The price of the coin is plunging by more than 68% on the news.

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Image via CoinMarketCap

WEMIX is an Ethereum-based token developed by Wemix Pte. Ltd. This is a subsidiary of Wemade — a game developer founded 22 years ago, which created many popular games in South Korea.

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It also built the Legend of Mir RPG, which was very popular in China and sold half a billion copies. Recently, Wemade raised $46 million from such companies as Microsoft, Shinhan Asset Management and others.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.