Binance Seeks to Reduce Stake in Operator of South Korean Crypto Exchange Gopax

[sirty143]

Binance Seeks to Reduce Stake in Operator of South Korean Crypto Exchange Gopax to 10%

Binance is reportedly seeking to reduce its stake in the South Korean crypto exchange Gopax’s parent company, Streami, to approximately 10%. Binance’s mooted sale of the stake to Megazone comes just over a year... See more for yourself here.

Your opinion is greatly appreciated.

[joniboini]

So if I'm reading this correctly, this move happened because the government feels like giving 72% ownership to Binance is a bit too much? I guess that's understandable. The government wants to make sure local exchanges are not controlled by external parties. That being said, it feels like Binance and its partner can find another way to collaborate on something else. Who knows what the partnership entails, but I expect them to continue to reduce their share to comply with the government. CMIIW.