The issues with liquidating the WEMIX stablecoin were not detailed, but the blockchain game producer has problems enough to choose from.
Wemix.fi, the decentralized finance platform for cryptocurrency Wemix, announced the suspension of its lending and borrowing services on July 30. This is just the latest twist in the story of the crypto behind the South Korean blockchain game developer Wemade.
Wemix.fi said the suspension of lending, borrowing, and liquidation functions was connected with “issues related to the liquidation of WEMIX$,” the platform’s USD-pegged stablecoin. Notice of resumption of services would be forthcoming, the announcement promised. Wemix.fi did not elaborate on the liquidation of its stablecoin.
The suspension of services comes a day after the news broke that former Wemade CEO Jang Hyun-kook had sold his shares in the company, driving the price of Wemix (WEMIX) to the year’s low of $0.94. The crypto’s price also took a beating in March when Jang resigned. Jang was said to be acting to reduce legal risk to the company after the crypto was tied to a political scandal last year.
