Whuffie Plans Token Burns as WHUF Trades Below $4.20 ICO Price

Whuffie (WHUF) is trading below its $4.20 initial coin offering price as the project prepares to return USDC in batches and burn the corresponding tokens after sanctions screening. The price-protection mechanism is operating as designed, but 23% of the original purchases were not covered during the protection window. That group now represents the largest source of outflow. Redemptions for non-sanctioned users have been automated. Sumsub flagged five people who failed screening; the reasons included terrorism and criminal activity. The team expects the batch returns and corresponding burns to take at least several days.

Source: TokenPost