Gopax Reportedly Sells Genesis Creditor Claims at Discount Price
In August 2023, Gopax, a Binance-owned top-five South Korean cryptocurrency exchange by market share, allegedly sold its Genesis creditor claims for half their face value. Hankyung, a local news agency, and Korea Economic Daily reported on May 27 that Gopax owes its consumers a total of 70 billion South Korean won ($51.4 million) for exposure […]
Binance’s Gopax Acquisition Delayed by SEC Lawsuit
Binance’s plan to buy a South Korean crypto exchange Gopax faces regulatory hurdles due to the SEC lawsuit against the global crypto giant. In February 2021, Binance announced that it had acquired a majority stake in Gopax and that it was spending funds from its industry recovery initiative on the acquisition. Binance and its partners […]
Binance acquires South Korean crypto exchange GOPAX
As a re-entry means into the South Korean crypto market after two years, Binance cryptocurrency exchange has acquired a majority stake in South Korea’s crypto exchange GOPAX. Bitcoin exchange A majority interest in GOPAX, a South Korean cryptocurrency exchange , has been bought by Binance. The “Industry Recovery Initiative,” which is headed by Binance, provided […]
Korean exchange Gopax faces closure if it does not meet regulatory deadline
South Korean Gopax crypto exchange, which is funded by Digital Currency Group, is in danger of being shut down because of the country’s fast-approaching deadline for platforms to apply for an official operating license. South Korean crypto exchange Gopax has told users if it can’t resolve its banking difficulties before a looming regulatory deadline it […]