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Binance, the world's largest crypto exchange, is reportedly in talks with South Korean cloud service provider Megazone to sell its ownership stake in Gopax.  
This move is part of <a href="https://optimisus.com/news/crypto-news/binance-to-delist-several-spot-trading-pairs-on-july-5th-2024/" rel="noopener noreferrer nofollow">Binance's strategy</a> to improve its governance structure in response to local financial authorities' regulatory requirements. The exchange, acquired in early 2023, had a 72.6% ownership stake at the time of acquisition.  
Binance plans to reduce this stake to around 10%. The sale comes as Gopax renews its real-name account contract with Jeonbuk Bank in August. This strategic shift reflects Binance's efforts to navigate regulatory views and adjustments in its market presence in South Korea.  
<a href="https://optimisus.com/news/ftx-exchange-sells-remaining-anthropic-shares-for-450-million/" rel="noopener noreferrer nofollow">The FTX exchange collapse</a> in November 2022 had a significant impact on Gopax, which had to suspend withdrawals from its decentralized finance services, including Genesis Global Capital, a crypto lending firm that filed for bankruptcy. 
The post <a href="https://optimisus.com/news/crypto-news/binance-is-nearing-a-deal-with-megazone-to-cut-its-stake-in-gopax/" rel="noopener noreferrer nofollow">Binance is nearing a deal with Megazone to cut its stake in Gopax</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

Binance is nearing a deal with Megazone to cut its stake in Gopax

Optimisus

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