Binance is Taking Action to protect the crypto currency WEMIX! In the long-running legal battle of South Korean blockchain developer and local cryptocurrency exchange, Wemade Co. Ltd. revealed on Sunday that Binance Institutional Services will acquire ownership of its native coin, WEMIX.
WEMIX Distribution via Binance Holdings
Wemade said that WEMIX will be managed and its distribution volume will be displayed starting next week through Binance Custody, a corporate custody service provided by Binance.
According to Wemade, Binance’s holdings will be responsible for managing approximately 70% of the entire WEMIX, or 92% of coins that are not currently in use. Other parts are connected to external companies or smart contracts.
Wemade – MIR4 Game Developer
Wemade, the famous game developer to get MIR4 money, fought against the four biggest changes in South Korea. Upbit, Bithumb, Coinone and Korbit are in court for the controversial distribution of tokens and have worked to increase the space of this system.
Wemade’s cryptocurrency will be removed from the exchange, according to a promise made Nov. 24 by four changes that make the company watch, the Digital Asset eXchange Alliance (DAXA), which hides insufficient reports and statistical traffic. Upbit – the biggest exchange in the world
Following the announcement, WEMIX’s stock and shares of the game developer’s subsidiary saw a sharp decline as Wemade CEO Henry Chang criticized Upbit, the country’s biggest exchange, for abusing its rights. Chang acknowledged that his company said the advertising numbers were incorrect.