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#Gate衍生品交易量新高 Deep Tide TechFlow news, on July 15, according to Cointelegraph, the Southern District Court of Seoul, South Korea, has ruled that the former CEO of the blockchain gaming company Wemade, Jang Hyun-guk, is not guilty in the WEMIX Token circulation manipulation case. The court found that Jang did not intend to influence the crypto assets market price through deceptive means, thus not violating South Korea's Capital Market Act.
The prosecution had accused Jang of falsely announcing the suspension of WEMIX Token liquidation to stabilize prices and enhance investor confidence, and also accused him of secretly selling over $200 million worth of WEMIX Tokens between February and October 2022. However, the court found no clear evidence to prove that he had the intent to manipulate the market.