Upbit Issues Investor Alert for Hifi Finance (HIFI) Over Token Supply Surge

• Upbit alerts users to a Digital Asset Exchange Association (DAXA) warning on HIFI.
• HIFI’s total supply will increase by 25 million tokens following a governance vote.
• The move could trigger significant price fluctuations, prompting investor caution.

Upbit, South Korea’s leading cryptocurrency exchange, has issued a caution notice for Hifi Finance (HIFI), acting on an alert from the Digital Asset Exchange Association (DAXA) aimed at safeguarding investors. The warning follows a recent governance vote that approved a substantial increase in HIFI’s token supply.

DAXA, the organization that monitors digital assets in South Korea, could take further action, potentially including restricting or even halting trading support for HIFI. Given this regulatory scrutiny and the planned supply increase, Upbit is advising investors to exercise caution due to the likelihood of heightened price volatility.

HIFI Token Supply Set to Jump by 25 Million

The caution notice stems from HIFI’s governance vote, held from March 10 to March 17. It approved the issuance of an additional 25 million HIFI tokens. The new supply will be unlocked over 21 months starting in March…

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