On June 7, the private sale fund operator Alpha Asset Management holds Wemade shares worth 35 billion won and is currently facing an expanding loss. As the virtual money Wemix, which had once pumped Wemade's stock price, has been delisted from the trading platform again, hopes for a rebound in the stock price are gradually fading. The company's CEO is Choi Jun-hyuk, who is the husband of the South Korean actress Jun Ji-hyun.
Wemix has been officially delisted by domestic cryptocurrency trading platforms in South Korea after experiencing its second delisting. Previously, Wemade had submitted a ban application against four exchanges that are part of the Digital Asset Exchange Alliance (DAXA), but it was rejected by the 50th Civil Division of the Seoul Central District Court (Presiding Judge Kim Sang-hoon) on the 30th of last month.
Wemix is a virtual money issued by the South Korean gaming company Wemade through its subsidiary, aimed at building a blockchain gaming ecosystem. DAXA decided to delist Wemix again on the 2nd of this month because Wemix suffered a hacker attack on February 28 and lost tokens worth 9 billion Korean won, and this news was made public on the 4th of this month. The coin had previously been listed as a trading attention project.
The decision to delist Wemix for the second time has heightened concerns at Alpha Asset Management. As Wemade's business conditions worsen, the possibility of Wemix rising to pump Wemade's stock price has completely evaporated. In the past, whenever the price of Wemix rose or favorable news surfaced, Wemade's stock price would also increase.
Alpha Asset Management Company purchased Wemade shares for 34,894 KRW and 63,887 KRW per share in October 2023 and January 2024, respectively, for amounts of 15 billion KRW and 20 billion KRW. As of June 2, Wemade's closing price was only 25,000 KRW, estimating a book loss of up to 15.8 billion KRW (approximately 11.66 million USD).
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Wemix second delisting: Jeon Ji-hyun's husband’s fund holds Wemade stocks facing a loss of 15.8 billion won.
On June 7, the private sale fund operator Alpha Asset Management holds Wemade shares worth 35 billion won and is currently facing an expanding loss. As the virtual money Wemix, which had once pumped Wemade's stock price, has been delisted from the trading platform again, hopes for a rebound in the stock price are gradually fading. The company's CEO is Choi Jun-hyuk, who is the husband of the South Korean actress Jun Ji-hyun.
Wemix has been officially delisted by domestic cryptocurrency trading platforms in South Korea after experiencing its second delisting. Previously, Wemade had submitted a ban application against four exchanges that are part of the Digital Asset Exchange Alliance (DAXA), but it was rejected by the 50th Civil Division of the Seoul Central District Court (Presiding Judge Kim Sang-hoon) on the 30th of last month.
Wemix is a virtual money issued by the South Korean gaming company Wemade through its subsidiary, aimed at building a blockchain gaming ecosystem. DAXA decided to delist Wemix again on the 2nd of this month because Wemix suffered a hacker attack on February 28 and lost tokens worth 9 billion Korean won, and this news was made public on the 4th of this month. The coin had previously been listed as a trading attention project.
The decision to delist Wemix for the second time has heightened concerns at Alpha Asset Management. As Wemade's business conditions worsen, the possibility of Wemix rising to pump Wemade's stock price has completely evaporated. In the past, whenever the price of Wemix rose or favorable news surfaced, Wemade's stock price would also increase.
Alpha Asset Management Company purchased Wemade shares for 34,894 KRW and 63,887 KRW per share in October 2023 and January 2024, respectively, for amounts of 15 billion KRW and 20 billion KRW. As of June 2, Wemade's closing price was only 25,000 KRW, estimating a book loss of up to 15.8 billion KRW (approximately 11.66 million USD).