Old Wemade CEO Clear for WEMIX Case as Token Drop 97%
South Korea court don clear ex-Wemade CEO Jang Hyun-guk from market manipulation and false disclosure charges for WEMIX token wahala. Prosecutors yarn say e secretly dey sell WEMIX worth over $200 million between Feb to Oct 2022 and dey lie about supply to fix price. Court say no evidence say e get mind to manipulate market price. Since then, WEMIX don crash 97% from 2021 high and dem comot am for major Korean exchanges because transparency palava. February, hackers knack WEMIX Foundation for $6 million plus slow report cause another 40% drop. The ruling reduce legal wahala but still show say Korean crypto rules and governance get gbege. Crypto traders suppose dey watch WEMIX liquidity and clear regulation.
Neutral
Di acquittal don clear one big legal wahala for WEMIX, fit make regulatory confuse go comot and make people wan buy small small. But the token don drop price by big 97% and e bin already comot for main market, e show say liquidity and confidence deep gbege dey. The February hack and slow way dem tell people make trust no strong again. Short term, traders fit see small small bounce back as charges don clear, but big wahala go need better management and market list back. For long term, better crypto laws for South Korea fit help WEMIX, but for now price no dey move well well. Generally, the news no too bad nor too good for WEMIX market.