The delisting of the WEMIX token from major Korean exchanges has led to significant financial losses for Alpha Asset Management and affected Wemade's stocks.
Financial Consequences of WEMIX Delisting
Alpha Asset Management, led by CEO Choi Joon Hyuk, is facing major losses due to the unexpected delisting of WEMIX from Upbit and Bithumb. Currently, the firm holds 35 billion won in Wemade shares, which has compounded its financial challenges. Earlier purchases of tokens in October 2023 and January 2024 valued at 15 billion and 20 billion won respectively have further exacerbated the situation.
Market Trends Following Token Delisting
As of June 7, 2025, the WEMIX token is trading at $0.42, showing a 3.11% rise over the past 24 hours after recent declines. However, the stock value of Wemade has dropped over 25% year-to-date. Official commentary from Alpha Asset Management and Wemade is absent, raising investor concerns.
Regulatory Implications in South Korea
Research by Coincu suggests that the absence of WEMIX from exchanges may spur further scrutiny from regulators in South Korea. Current market trends reveal a tendency for investor caution in speculative virtual asset investments, especially within the volatile GameFi sector.
The WEMIX delisting has significantly impacted Alpha Asset Management's financial performance and created uncertainty in the market, potentially leading to changes in regulatory policy in South Korea.
