Court Denies Galaxy Foundation’s Injunction Request, GXA Delisted from Bithumb Amid Controversy

The court has denied Galaxy Foundation’s request for a preliminary injunction to terminate Galaxia’s support for Bithumb trading, resulting in GXA being delisted at 3pm today. Galaxy expressed regret over the decision and intends to pursue legal options while continuing business as usual after delisting. This news caused a significant drop in GXA’s price, with it plummeting by 45.53% on Bithumb and 48.93% on Gopax. The case revolves around the unauthorized withdrawal of over 380,000 GXA last November, with Galaxy claiming it was due to a hack, while DAXA considers it a matter of concern. Despite being part of DAXA, Bithumb decided to delist GXA, while Gopax opted to continue trading, believing that necessary measures have been taken to protect investors.

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