Upbit and Bithumb, among other Korean CEXs, have terminated trading of Loom Network (LOOM)

ChainCatcher news, the South Korean cryptocurrency exchanges Upbit and Bithumb have both announced that they will soon terminate trading of Loom Network (LOOM). The official statement indicates that Loom Network (LOOM) has been removed from the DAXA (Korea Digital Asset Exchange Association) members.

After a comprehensive review of the foundation's public disclosures and the authenticity and sustainability of the business, it was decided to terminate trading support because LOOM does not meet the standards for maintaining trading support.

The termination date and time for trading (buy/sell) is temporarily set for May 7, 2025 (Wednesday) at 15:00.