In 2023, WeMade announced a donation of approximately $696,000 in Wemix tokens to Seoul National University, but the situation turned controversial when the company liquidated a large portion of its holdings, causing a significant devaluation. The university, unable to accept cryptocurrency due to South Korean regulations, was left unable to utilize the funds for their intended project. This incident has prompted discussions among regulators about potentially allowing universities to convert cryptocurrencies, which could provide new fundraising opportunities amid financial difficulties.
In 2023, WeMade pledged to donate $695,988 in Wemix tokens to Seoul National University, but controversies surrounding cryptocurrency led to the university halting donation acceptance.
WeMade's liquidation of coins shortly after the donation devalued the contribution, complicating its use for the project for which it was designated.
South Korean regulators may soon allow universities to convert cryptocurrency, potentially opening new fundraising avenues in a financially struggling sector.
The higher education sector has seen significant growth in cryptocurrency donations, with prominent payments made by notable individuals to U.S. universities.
Collection
[
|
...
]