The Bitcoin (BTC) spot Exchange-Traded Fund (ETF) recorded a net inflow. According to TraderT on the 5th (local time), a total of $424.5 million was net inflowed into the Bitcoin spot ETF on this day. While BlackRock IBIT saw a net inflow of $530.2 million, other products such as Fidelity FBTC (-$57.8 million) and Bitwise BITB (-$22.7 million) recorded net outflows.
Litecoin (LTC) plummeted during the day. The decision on the approval of the spot Exchange-Traded Fund (ETF), which was originally scheduled for the 5th (local time), has been delayed, significantly dampening investor sentiment. As of 10:34 AM on the 6th (Korean time), Litecoin is trading at $83.19, down 2.94% from the previous day, according to CoinMarketCap. On this day, Litecoin had surpassed $90 during the day on expectations of the spot ETF approval decision but has now given up all gains and turned bearish. The reason for Litecoin's weakness today is attributed to the delay in the spot ETF approval decision by the Securities and Exchange Commission (SEC). Previously, the SEC postponed the decision on the Litecoin spot ETF application submitted by Cannery Capital. The SEC stated, "It is necessary to determine whether the proposal to list and trade trust shares that will hold Litecoin is safe from fraudulent and manipulative acts," and "We will seek public opinion on this matter."
A draft framework for digital asset regulation has been released in the United States. According to CoinQu, a cryptocurrency-focused media outlet, on the 5th (local time), U.S. House Financial Services Committee members French Hill and Glenn Thompson announced the draft framework for digital asset regulation. The core of this draft is to grant authority over decentralized assets like Bitcoin (BTC) and Ethereum (ETH) to the Commodity Futures Trading Commission (CFTC), while centralized assets will be overseen by the Securities and Exchange Commission (SEC). Representative Glenn Thompson stated, "This draft will be the first step in closing regulatory gaps."
According to the virtual asset (cryptocurrency) data provider Alternative on the 6th, the virtual asset Fear & Greed Index recorded 59 points, up 7 points from the previous day. As of 9:22 a.m. on this day, Bitcoin (BTC) is trading at $94,596 on CoinMarketCap, up 0.10% from the previous day. Most altcoins also remained flat. At the same time, Ethereum (ETH) rose 0.18%, and Ripple (XRP) fell 1.43%. Additionally, Binance Coin (+1.80%), Solana (+0.96%), Dogecoin (-0.48%), Cardano (-2.10%), and Tron (+0.12%) also showed a stable trend around 1%. The Fear & Greed Index is an indicator that expresses market sentiment, indicating extreme fear when close to 0 and extreme greed when close to 100. This index is calculated based on volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin market cap dominance (10%), and Google search trends (10%).
According to CoinKu on the 5th (local time), Caroline Pham, Acting Chair of the Commodity Futures Trading Commission (CFTC), stated, "The CFTC plans to participate as an observer in a small-scale industry tokenization pilot program," adding that they aim to understand how well tokenized assets function in the real world. CoinKu commented, "The CFTC's participation in the program suggests a surge in interest in digital assets," and assessed that "it could influence future regulatory frameworks."
Investors are keenly watching whether Bitcoin (BTC), the leading cryptocurrency, will surpass the $100,000 mark. Meanwhile, there is analysis suggesting that Bitcoin is facing strong resistance at the $98,000 level. According to CoinDue, a cryptocurrency-focused media outlet, Glassnode stated on the 5th (local time) that "Bitcoin is currently at a crucial decision point," adding that "the conditions for Bitcoin's rise, as suggested by analysts, are maintaining the $95,000 support level and breaking through the $98,000 resistance level." Glassnode explained, "Currently, 86% of Bitcoin's supply is in profit," noting that "this generally indicates an optimistic sentiment, but when the supply profitability is high, short-term holders may realize profits, leading to a temporary correction." They further added, "If Bitcoin falls below $95,000, the downtrend could extend to $85,000, and even further to $75,000." Meanwhile, as of 8:27 AM on the 6th (KST), Bitcoin is trading at $94,940, up 0.47% from the previous day, according to CoinMarketCap.
Since its major exchange listing last February, Pi Network (PI), commonly known as Pi Coin, has been on a continuous downtrend, but a positive analysis has emerged. On the 6th (KST), the cryptocurrency-focused media outlet BeInCrypto analyzed that "the On-Balance Volume (OBV) of Pi Coin has surged over the past two trading days." OBV is an indicator used to predict price movements using trading volume. A rise in OBV indicates a surge in buying pressure for the cryptocurrency. BeInCrypto explained, "OBV is considered a leading indicator and may suggest a price increase," adding, "Although the price of Pi Coin remains sluggish, it seems that investors are starting to accumulate." Meanwhile, as of 8:07 AM today, Pi Coin is trading at $0.5886, down 0.35% from the previous day, according to CoinMarketCap.
<Today's Major Economic Schedule> ▶︎6th (Tue): △European Union (EU) April Services Purchasing Managers' Index (Korea Time 17:00, US Time 04:00) △UK April Services Purchasing Managers' Index (Korea Time 17:30, US Time 04:30) △US March Exports (Korea Time 21:30, US Time 08:30) △US March Imports (Korea Time 21:30, US Time 08:30) △US March Trade Balance (Korea Time 21:30, US Time 08:30) <Today's Cryptocurrency Schedule> ▶︎6th (Tue): △Aave (AAVE) Team Update
Cryptocurrency skeptic Peter Schiff has once again voiced his criticism of Bitcoin (BTC). On the 5th (local time), Peter Schiff stated on his X (formerly Twitter), "Tonight, while U.S. stock futures and the dollar are both declining, gold is up 1%, whereas Bitcoin is down 1%," adding, "Bitcoin is a risk asset. Bitcoin is not digital gold." Meanwhile, as of 1:04 PM on the 5th (Korean time), Bitcoin is trading at $94,120, down 1.75% from the previous day according to CoinMarketCap.
According to the Token Mindshare (a metric quantifying the influence of specific tokens in the cryptocurrency market) top gainers from the AI-based Web3 search platform Kaito, the top 5 cryptocurrency-related keywords currently attracting the most attention are Ethereum (ETH), AIXBT, Kaito (KAITO), Zerebro (ZEREBRO), and Fartcoin (FARTCOIN). Ethereum ranks first. Investors are keen to see if Ethereum can experience a bull market in May. According to CoinGlass data, Ethereum has closed higher six times in May historically, with three instances of closing lower. As of 12:54 PM, Ethereum is trading at $1,795, down 2.12% from the previous day according to CoinMarketCap. AIXBT follows. The AI agent AIXBT serves as a communication channel for investors during media downtime on holidays. The mention volume increased as many investors sought to obtain cryptocurrency-related information through AIXBT. Kaito ranks third. Active participation from investors in new cryptocurrencies added to the Kaito launchpad helped secure its position. The cryptocurrency currently receiving the most attention is Caldera (CALDERA). Meme coins Zerebro and Fartcoin are ranked fourth and fifth, respectively. On this day, Zerebro showed a sharp decline, while Fartcoin recorded an upward trend, attracting investor interest. At the same time, Zerebro is trading at $0.04266, down 5.82% from the previous day. In contrast, Fartcoin is trading at $1.09, up 2.17% from the previous day. Additionally, investors are showing interest in OKB, Berachain (BERA), Ronin (RON), AVA, and Farcaster.
According to The Data Nerd on the 5th (Korean time), an address suspected to belong to Flow Traders deposited 10 million USDC into Binance and withdrew 100 Bitcoins (BTC) 1 hour ago.
Pump.fun, a meme coin creation protocol based on Solana (SOL), is reported to have generated more fee revenue than Ethereum (ETH). On the 5th (local time), WuBlockchain, citing Token Terminal data, reported that Pump.fun has earned $294 million in revenue so far this year. During the same period, Ethereum's fee revenue was only $249 million. WuBlockchain added, "Additionally, Pump.fun's weekly fee revenue has been higher than Ethereum's for the past 9 weeks."
It has been observed that the trading volume of stablecoins on Binance, the world's largest exchange, has significantly increased. On the 5th, a Crazzyblockk CryptoQuant contributor analyzed in a report that "recent data shows a significant increase in the share of stablecoin pairs in Binance's Bitcoin (BTC) spot trading." According to the report, trading through Tether (USDT) currently accounts for 57% of the total Bitcoin spot trading volume. Trading through USDC recorded 9%. The Crazzyblock contributor explained, "The liquidity centered around stablecoins shows that users are participating more actively and prefer stablecoin-based trading on centralized exchanges." He added, "As the trading share of Tether and USDC increases, trading within the exchange becomes more active, and the liquidity pool deepens, indicating that stablecoins play a key role in Bitcoin price formation." The Crazzyblock contributor viewed the current situation positively. He emphasized, "As stablecoin and user activity increase, liquidity grows, and the market becomes more robust, ultimately accelerating the popularization of virtual assets through an easier trading environment."
Kevin O'Leary, a famous investor attending the world's largest virtual asset (cryptocurrency) conference Consensus2025 as a speaker, shared his views on Bitcoin (BTC). In a recent interview with CoinDesk, Kevin O'Leary stated, "Bitcoin should be the core of a virtual asset portfolio," explaining that "Bitcoin is evolving into a mature investment destination, moving away from synchronization with traditional finance." He added, "Gold has held that position for a long time, but now Bitcoin is threatening gold's position." O'Leary also focused on institutional demand for Bitcoin. He explained, "Institutions wanting to invest in virtual assets will invest in Bitcoin, not Ethereum (ETH)," adding that "institutions still lack a precise understanding of Ethereum's narrative." He further mentioned, "Ethereum is an asset that can be invested in only after understanding its utility," and noted, "There are many excellent Layer 2s besides Ethereum." Previously, he participated in a podcast and made headlines by naming Sui (SUI) as the best altcoin in April. He also recommended direct investment in Bitcoin over Bitcoin Exchange-Traded Funds (ETFs). O'Leary said, "If you want volatility in virtual assets, it's better to purchase Bitcoin directly," explaining that "there's no need to pay expensive fees to buy ETFs." Meanwhile, O'Leary disclosed that Bitcoin accounts for 1.5% of his portfolio, and companies related to virtual assets account for 19%. The virtual asset-related stocks he holds include ▲Coinbase, ▲Robinhood, and ▲WonderFi. He elaborated, "Volatility is good for exchanges. Whether virtual assets rise or fall, exchanges will make money," adding, "These companies will benefit even more if regulatory bills like the 'Genius Act' and 'Stablecoin Act' are passed."
President Donald Trump stated that he has no idea about the controversy surrounding the meme coin Official Trump (TRUMP) themed around him. On the 4th (local time), in an interview with NBC, President Trump responded to the anchor's question about criticisms of profiting from promoting virtual assets (cryptocurrencies) by claiming, "I have never profited from virtual assets." Furthermore, President Trump also commented on the dinner invitation for top holders of Official Trump, saying, "I don't know how high the value of Official Trump has risen or what it means."
The token GorkAI Agent (GORK), which mimics the generative artificial intelligence (AI) developed by X (formerly Twitter), surged intraday. It is analyzed that Elon Musk, CEO of Tesla, changing his X account name led to the surge of GorkAI Agent. As of 10:32 AM on the 5th (Korean time), GorkAI Agent is trading at $0.06687, up 53.45% from the previous day according to CoinMarketCap. Additionally, a new meme token with the same ticker name is also showing an intraday surge of over 300%. The background of the price increase of GorkAI Agent seems to be rooted in Musk CEO's activities on X. On this day, Musk CEO changed his X account name to 'gorklon rust'. Previously, Musk CEO had also sparked a meme coin frenzy by changing his X account name. On December 31st, Musk CEO changed his X account name to KEKIUS MAXIMUS and changed his profile picture to a related character. At that time, KEKIUS MAXIMUS recorded an intraday surge of 8000%.
President Donald Trump has expressed his intention to lower tariffs on China in the future. According to Fortune on the 4th (local time), President Trump, in an interview with NBC, stated, "(Tariffs on China) will be lowered someday," adding, "This is an inevitable measure to do business with them." Regarding the U.S. economy's contraction in the first quarter, he said, "The good part is the Trump economy, and the bad part is the Biden economy," adding, "This is a transition period, and we will do fantastically." Previously, the Trump administration set a high tariff rate of 145% on China. President Trump explained, "China is now practically (economically) dying," adding, "By imposing tariffs, we have effectively cut off trade relations with China. We have not suffered losses to China." Regarding the price increase due to tariffs, he dismissed concerns about a recession by saying, "An 11-year-old girl doesn't need 30 dolls." Meanwhile, President Trump announced that the U.S. administration has entered into tariff negotiations with countries including China.
President Donald Trump emphasized the importance of the virtual asset (cryptocurrency) industry. In an interview with NBC News on the 4th (local time), President Trump said, "I want virtual assets. Millions of people want them," and "If the U.S. doesn't seize the virtual asset industry, China will." He continued, "Even when the market was down, virtual assets remained strong," and "Virtual assets are the future, and we must not fall behind."
According to the virtual asset (cryptocurrency) data provider Alternative on the 5th, the virtual asset Fear & Greed Index recorded 52 points, down 12 points from the previous day, transitioning to a neutral stage. As of 9:05 a.m. today, Bitcoin (BTC) is trading at $94,288 on CoinMarketCap, down 1.72% from the previous day. Most altcoins also showed a bearish trend. At the same time, Ethereum and XRP fell by 1.44% and 1.43%, respectively. Additionally, Binance Coin (-2.21%), Solana (-2.00%), Dogecoin (-2.97%), and Ada (-3.40%) also declined. However, TRON rose by 0.83% compared to the previous day. The Fear & Greed Index is an indicator that expresses market sentiment, with a score closer to 0 indicating extreme fear and closer to 100 indicating extreme greed. This index is calculated based on volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin market cap dominance (10%), and Google search trends (10%).
The US Democrats and Republicans, who had reached a rare bipartisan agreement on the stablecoin (a virtual asset pegged to the value of fiat currency) bill, have hit a snag. This is due to Democratic lawmakers opposing the stablecoin bill. On the 4th (local time), the US political media outlet Politico reported that nine key Republican lawmakers have opposed the stablecoin bill, the 'Genius Act'. This bill, proposed by Senator Bill Hagerty, aims to establish regulatory clarity for stablecoins. According to the report, the nine lawmakers stated in a joint statement, "The bill still has several issues, and we will not support it without amendments." The statement included names such as ▲Ruben Gallego, ▲Mark Warner, ▲Lisa Blunt Rochester, and ▲Andy Kim. Senate Majority Leader Chuck Schumer also expressed opposition to the stablecoin bill. An anonymous source revealed, "Senator Chuck Schumer privately urged Democratic lawmakers not to support the stablecoin bill." However, negotiations between the two parties on the stablecoin bill are reportedly ongoing. Representative Ruben Gallego, who participated in the statement, announced on his X (formerly Twitter), "This is not a sudden decision by the Democrats. Democrats have been trying to negotiate with Republicans on this bill for weeks." He added, "The improvements we sought were not included," and "We hope this bill moves in a better direction." Meanwhile, the US Senate Committee is scheduled to hold the first vote on the bill next week.
<Today's Major Economic Events> ▶︎5th (Mon): △US April Services PMI (Korean time 22:45, US time 09:45) △US April ISM Non-Manufacturing PMI (Korean time 23:00, US time 10:00) <Today's Major Cryptocurrency Events> ▶︎5th (Mon): △Floki (FLOKI) AMA △IOTA (IOTA) Rebased Upgrade △Kaspa (KAS) Crescendo Node Version V1 Mainnet Implementation △Cardano (ADA) Budget Voting
Attention is focused on whether the Litecoin (LTC) spot Exchange Traded Fund (ETF), currently awaiting approval from the Securities and Exchange Commission (SEC), will be approved. Some suggest that Litecoin might be the first altcoin to receive spot ETF approval. On the 4th (local time), Bloomberg ETF analyst James Seyffart stated on X (formerly Twitter) that "the decision on the approval of the Canary Fund's Litecoin spot ETF is scheduled by the 5th," adding, "Previously, the SEC delayed decisions on several spot ETF applications, but this product has not been delayed." He further added, "The asset with the possibility of early approval is Litecoin," and "Personally, I think the possibility of a delayed decision is higher, but it needs to be watched."
It is noteworthy whether Strategy (formerly MicroStrategy) will purchase Bitcoin (BTC) once again. On the 4th (local time), Michael Saylor, CEO of Strategy, posted the Saylor Tracker Chart on X (formerly Twitter). CEO Saylor has been posting this chart on X whenever Strategy buys Bitcoin.
A kidnapping incident targeting virtual assets (cryptocurrency) occurred in France. According to Le Monde on the 4th (local time), a man in his 50s, Mr. A, the father of a virtual asset businessman, was kidnapped by four masked men in the 14th district of Paris at around 10:30 a.m. on the 1st. Mr. A is known to be the father of a businessman who runs a virtual asset marketing company in Malta and France. It is reported that the kidnappers demanded a ransom of 5 to 7 million euros (approximately 7.9 to 11 billion KRW). The investigation authorities rescued Mr. A, who was confined in a house in a suburban city of Paris, at around 9 p.m. on the 3rd, two days after the incident, through a special operation. However, it is reported that Mr. A suffered serious injuries, including having his fingers severed. Crimes targeting virtual assets have been occurring continuously recently. In France, on January 21, David Ballant, the co-founder of Ledger, was also kidnapped and rescued. The founder Ballant also suffered torture, including having his fingers severed.
The decentralized physical infrastructure network (DePIN) blockchain IoTeX announced on the 3rd that it has successfully completed the first stage of the world's first live audition program 'Crypto's Got Talent', which discovers next-generation projects. This program was hosted by IoTeX with participation from Polygon Labs and ElizaOS, and was supported by Messari, Samsung Next, and Aglaia. The first audition of Crypto's Got Talent saw participation from developers in various fields such as logistics, artificial intelligence (AI), electric vehicle (EV) infrastructure, and decentralized science. The first audition recorded 190,000 online exposures, over 40,000 real-time views per episode, and nearly 3,000 community votes. Judges included venture capitalists, influencers, DePIN experts, and partners from the virtual asset (cryptocurrency) industry. As a result of the first audition, 11 projects advanced to the semifinals. The projects advancing to the semifinals are ▲Nublia, ▲DeCharge, ▲JamGalaxy, ▲Rovr, ▲Flashback, ▲Captur, ▲Network, ▲GenPulse, ▲Gargoyle, ▲Systems, ▲Axal, ▲Traxa DAO, ▲Lilypad, ▲Avo, and ▲Datagram. The projects that passed the first audition will compete for a total grant of $500,000 in the next stage. In the upcoming second stage of Crypto's Got Talent, live demos, pitch deck presentations, and in-depth Q&A sessions are planned. The projects will be evaluated by judges and the community on technical feasibility, infrastructure suitability, and real-world application plans. Jing Sun, co-founder of IoTeX, expressed, "Crypto's Got Talent is not just a competition program but a global launchpad for builders aiming to solve real-world problems," adding, "This is at the forefront of DePIN innovation."
Interest among investors in the U.S.'s strategic reserve of Bitcoin (BTC) is growing by the day. However, some speculate that the U.S. is unlikely to purchase additional Bitcoin for strategic reserves. According to Cointelegraph, a cryptocurrency-focused media outlet, Arthur Hayes, the founder of BitMEX, stated in an interview, "I am not very interested in the U.S.'s strategic reserves," adding, "I don't think the U.S., currently running a deficit, will buy more Bitcoin for strategic reserves." Hayes added, "The only way the U.S. can manage its Bitcoin reserves is by not selling the 200,000 Bitcoins it has seized." This assertion stems from the speculation that the U.S. is unlikely to implement quantitative easing, which involves printing more money, to increase its Bitcoin reserves. Hayes said, "I don't think anyone in authority can publicly announce that they will print more money to buy Bitcoin." The U.S. currently holds a total of 198,012 Bitcoins, which amounts to $19 billion at current market prices. However, some industry experts remain optimistic about the formation of the U.S.'s strategic Bitcoin reserves. Sergej Kunz, co-founder of 1inch, said, "If the U.S. starts buying Bitcoin for strategic reserves, other countries might join the buying spree," adding, "Soon, there could be a competition over who holds more Bitcoin."
As the Securities and Exchange Commission (SEC) abruptly withdrew its lawsuit against Ripple, Ripple's Chief Legal Officer (CLO) expressed his thoughts on the matter. On the 2nd (local time), in an official X (formerly Twitter) post by Ripple, Stuart Alderoty, Ripple CLO, stated, "The SEC has not only recently withdrawn its lawsuit against Ripple but is also withdrawing actions against other virtual asset (cryptocurrency) companies," adding, "This acknowledges that the actions the SEC has taken so far were not based on clear guidelines and regulations." He further added, "Now is the time to clear up the confusion, focus on business operations, and work with authorities to establish wise and clear regulations related to virtual assets." The SEC filed a lawsuit in December 2020 against Ripple Labs and Brad Garlinghouse, Ripple's Chief Executive Officer (CEO), for unregistered securities sales. However, in July 2023, Judge Analisa Torres of the Southern District of New York ruled that "XRP tokens sold in distribution and retail sales do not constitute an investment contract" and "did not violate federal securities laws." After this ruling, the SEC appealed once again, but in March, it abruptly withdrew the appeal, bringing the legal dispute between Ripple and the SEC to a final close.
According to the top gainer of Kaito, an AI-based Web3 search platform's Token Mindshare (a metric quantifying the influence of specific tokens in the virtual asset market), the top 5 virtual assets that people are most interested in as of the 3rd are Ethereum (ETH), Bankalcoin (BNKR), Caldera (CALDERA), Sui (SUI), and Pudgy Penguin (PENGU). Firstly, the leading altcoin Ethereum has attracted investors' attention due to the news of large withdrawals from exchanges recently. Exchange withdrawals tend to correlate with price increases of virtual assets. According to IntoTheBlock, approximately $380 million worth of Ethereum has been withdrawn from centralized exchanges (CEX) over the past 7 days. Meanwhile, as of 1:12 PM today, Ethereum is trading at $1837, down 0.28% from the previous day according to CoinMarketCap. Bankalcoin took the 2nd place. It is analyzed that the mention volume increased as many investors participated in NFT minting using the AI agent Bankalbot. Caldera ranked 3rd. It is analyzed that Caldera amplified investors' interest by being added to Kaito's Yapper leaderboard today. Sui took the 4th place. This is due to the news that the portable gaming console startup Playtron's stablecoin 'Game Dollar' will be launched on Sui. Playtron is launching Game Dollar in collaboration with the stablecoin infrastructure platform M0 and the payment startup Bridge. Finally, Pudgy Penguin, which recorded a steep rise during the day, took the 5th place. As of 1:12 PM today, Pudgy Penguin is trading at $0.1146, up 9.05% from the previous day. It also recorded an intraday high of $0.1258 but has since given up some of its gains. With today's rise, Pudgy Penguin succeeded in entering the top 100 market cap, surpassing Decentraland (MANA) and DeepBook Protocol (DEEP). Additionally, investors are also showing interest in XRP, Farcaster, Mitosis, Kaito (KAITO), and Hyperliquid (HYPE).
Kim Seok-hwan, the head of the Wemix Foundation, expressed dissatisfaction with domestic virtual asset (cryptocurrency) exchanges. On the 3rd, at a press conference near Pangyo Station, Kim responded to a reporter's question about whether there are any additional measures to address the situation, saying, "We plan to file an injunction lawsuit domestically and will use all means to recover." He also confirmed the intention to continue the business of Wemade and the Wemix Foundation. Kim stated, "We have invested a tremendous amount of money in the business so far," and "Currently, 321 personnel are involved in the blockchain project, which is our sincerity." The Wemix Foundation also emphasized that they spent a lot of time explaining the designation of the trading caution item. Kim said, "After the hacking incident, we held a press conference once, and since then, we have explained the designation of the trading caution item at various places such as shareholder meetings and holder meetings." He also expressed dissatisfaction with the exchanges. Kim pointed out, "It is true that Wemix holders have suffered damage. However, Wemix holders are customers of both Wemix and domestic virtual asset exchanges. It is questionable what DAXA and the exchanges are saying and explaining. They are not revealing anything about how they made such a decision that caused significant damage to their customers, or who made the decision." He added, "Currently, exchanges in the domestic virtual asset industry are too powerful. It is problematic that they arbitrarily decide on significant issues like delisting without any discussion process or criteria in the self-regulatory body," and "This issue is not limited to Wemix and needs to be improved to prevent such situations in the future."
The previous day, domestic virtual asset (cryptocurrency) exchanges announced the delisting of Wemix (WEMIX), and the Wemix Foundation expressed its discontent with this decision. Kim Seok-hwan, CEO of the Wemix Foundation, stated at a press conference on the 3rd, "We cannot accept or comply with DAXA's decision, so we are immediately filing for an injunction and preparing legal procedures." CEO Kim said, "The Wemix team has never objected to the requested items and schedule for clarification and has diligently clarified using all available resources," and "We believed maintaining the listing on domestic exchanges was important, so we followed a sincere clarification process." The Wemix side claimed that there was a lack of smooth communication as they did not receive any feedback from DAXA during the clarification process. The first clarification by the Wemix side took place after being designated as a trading caution item on March 4. CEO Kim explained, "In the first clarification, we were asked to clarify three items: the foundation's awareness and response timeline to the hacking incident, the cause and prevention measures for the Wemix Play Bridge hacking, and the recovery plan and measures for the damage," and "The Wemix side submitted all clarification materials on March 10." The second clarification request was communicated on March 20. It was reported that the second request required clarification on the 'insincere disclosure' related to the Wemix side's hacking incident. CEO Kim said, "We conveyed the contents regarding insincere disclosure during the first clarification, and in the second, we intended to clarify more detailed contents. However, we did not receive any feedback from DAXA." Furthermore, there were three clarification requests in April. In particular, for the final clarification, they explained that they received verification of their security system from an external security consulting firm certified by the Korea Internet & Security Agency (KISA) and submitted these contents to DAXA. Despite these clarification processes, the Wemix side claimed that DAXA decided on the delisting without clear reasons.