FLOW drops 50% as South Korea court upholds delisting on exchanges
The post FLOW drops 50% as South Korea court upholds delisting on exchanges appeared on BitcoinEthereumNews.com.
South Korea’s biggest cryptocurrency exchanges, Upbit, Bithumb, and Coinone, will go ahead with delisting FLOW from their respective platforms as planned after a Seoul court dismissed the Flow Foundation’s emergency injunction on March 13, 2026. The dismissal removes the last legal obstacle to a trading halt that had been looming since February. FLOW has been on a decline, dropping to around $0.037, a 50% drop from a high of over $0.074 reached on March 10. The 50th Civil Division of the Seoul Central District Court, presided over by Judge Lee Sang-hoon, ruled that the materials submitted by the Flow Foundation and Dapper Labs were not sufficient to justify suspending the delisting decision ahead of a full hearing on the merits. Therefore, trading support on Upbit, Bithumb, and Coinone ends at 3 pm KST on March 16, 2026. Why did the court refuse to intervene? According to the court, the Flow Foundation could not establish that a valid transaction support contract existed between the applicants and the exchanges. Another reason for the dismissal was that the court declined to second-guess the exchanges’ judgment on whether the trading caution designation had been resolved, stating that, without a thorough evidentiary hearing, it could not conclude that the grounds for caution had lapsed by the time of the delisting decision. Third, it found that the necessity of suspending the delisting ahead of a full trial had not been adequately demonstrated. For the court, FLOW remains tradeable on other domestic and global exchanges; relisting remains possible if the grounds for the caution designation are resolved; and suspending the delisting risked exposing other potential investors to greater losses and risks. Taken together, those factors outweighed the Foundation’s case for emergency relief. This is not the first time that a ruling similar to this incident will side…
Filed under: News - @ March 16, 2026 4:30 pm