Wemade Contracts Binance to Verify and Safekeep Wemix Crypto
Binance Custody, the institutional level custodia service of the world’s leading cryptocurrency exchange (in terms of transaction volume), Binance, will handle WEMIX and confirm its floating volume as soon as next week, Wemade announced.
As per Wemade, around 70% of WEMIX’s cumulative supply, or 92% of the non-circulating coin, will be handled by Binance Custody, while the remainder is connected to smart contracts or other organizations.
Wemade, the blockchain focused game expert behind the widely known play-to-earn role-playing fantasy game MIR4, has been striving to enhance the transparency of its crypto token’s disputed circulation, which has become a central issue in the company’s court fight against four of South Korea’s biggest exchanges: Upbit, Bithumb, Coinone, and Korbit.
The Digital Asset eXchange Alliance (DAXA), a domestic industry watchdog body, pledged to delist Wemade’s cryptocurrency on November 24, claiming incorrect disclosure of circulation statistics.
Wemade Chief Executive Officer Henry Chang critiqued the biggest exchange in the nation, Upbit, for misusing its position, resulting in a precipitous decline in the value of WEMIX and the game creator’s subsidiary stock. Chang has stated that his business falsified circulation statistics.
Wemade sought restraining orders against the crypto exchanges last week to overturn their judgment to delist WEMIX. The Seoul Central District Court is anticipated to provide a final judgement on the lawsuit on December 7, one day before to the scheduled delisting.
As per local media sources, Chang intends to adhere to quarterly “Ask Me Anything” seminars.