South Korea’s SK Square Delays Crypto Token Launch, Here’s Why

South Korea-based SK Square, an investment arm of conglomerate SK Group, on Wednesday said it will delay the launch of its crypto token due to volatility and FUD in the crypto market.

In fact, SK Square initially planned to release its white paper in the second quarter and launch the SK Coin, a tentative name, in the third quarter.

SK Square Postpones Crypto Token’s White Paper and Launch

SK Square has decided to delay the issuance of SK Coin amid weak market conditions as a result of the Terra-LUNA crash and liquidity crisis, reported South Korea’s Aju Business Daily on June 22.

A spokesperson for SK Square said:

“Preparations are complete, but the market isn’t very good at the moment. The timing has not been confirmed for the issuance of tokens. We will introduce it after addition supplmentation.”