TechFlow News — Waves has released a statement regarding DAXA's investigation into the WAVES token. Upbit and Bithumb believe that the WAVES price could become unstable due to USDN's depegging. However, USDN is an independent project built on the Waves blockchain that uses WAVES as collateral; it has no intrinsic connection to the WAVES token.
Furthermore, Waves officially stated that the only way USDN could directly affect the WAVES price is by redeeming WAVES from its smart contract and selling them on the market. The impact of fully redeeming all WAVES from the smart contract is negligible, and there is no new issuance of WAVES tokens. Waves representatives are contacting the Upbit and Bithumb teams and will continue working with them to correct this misunderstanding.
Earlier reports indicated that South Korean cryptocurrency exchange Upbit announced that due to the depegging of Neutrino USD (USDN), a stablecoin within the Waves ecosystem, its collateral asset WAVES (Waves) has been flagged as an "Investment Warning" (i.e., high-risk asset) by the Digital Asset Exchange Association (DAXA). Original link
