{"id":34035,"date":"2024-07-11T11:17:31","date_gmt":"2024-07-11T11:17:31","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/binance-to-sell-gopax-shares-to-megazone-report\/"},"modified":"2024-07-11T11:17:31","modified_gmt":"2024-07-11T11:17:31","slug":"binance-to-sell-gopax-shares-to-megazone-report","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/binance-to-sell-gopax-shares-to-megazone-report\/","title":{"rendered":"Binance to sell GOPAX shares to MegaZone: report"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/01\/1706541373718-c0e8e172-4974-4915-90bf-864b919d0aeb-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/01\/1706541373718-c0e8e172-4974-4915-90bf-864b919d0aeb-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/01\/1706541373718-c0e8e172-4974-4915-90bf-864b919d0aeb-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/01\/1706541373718-c0e8e172-4974-4915-90bf-864b919d0aeb-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Binance is reportedly set to reduce its stake in GOPAX exchange.<\/li>\n<li>The shares sale will involve South Korea cloud service provider MegaZone.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/coinjournal.net\/news\/tag\/binance\/\">Binance<\/a> is reportedly in final negotiations as it looks to reduce its shares in South Korea-based crypto exchange GOPAX.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to local media outlet IT Chosun, Binance is set to sell its shares in the crypto exchange to MegaZone, the parent company of South Korean cloud provider Megazone. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The sale will see Binance reduce its stake in GOPAX from 72.6% to roughly 10%, IT Chosun <a href=\"https:\/\/it.chosun.com\/news\/articleView.html?idxno=2023092119278\" target=\"_blank\" rel=\"noopener\">reported<\/a>.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Binance to reduce stake from 72.6% to under 10%<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In March, Binance officially informed financial authorities that the exchange will seek to reduce its shares in GOPAX to allow for the reorganization. In this case, the stake will reduce from the majority of 72.6% to less than 10%.<\/span><\/p>\n<p><span style=\"font-weight: 400\">An approval by financial authorities following this move will see Binance and GOPAX renew real-name accounts with the Jeonbuk Bank before August 11. On the other hand, reducing its stake allows Binance to bolster the local exchange with capital injection.<\/span><\/p>\n<p><span style=\"font-weight: 400\">GOPAX continues to suffer capital erosion after incurring massive debts following FTX\u2019s collapse in 2022. In its deal with the South Korean exchange, Binance agreed that it would settle the 56 billion won ($40.6 million) debt. This would however be subject to a nod from financial authorities for Binance as the largest shareholder.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The delay has since seen GOPAX\u2019s debt spike to over 118.4 billion won ($85.8 million).<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/binance-to-sell-gopax-shares-megazone\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Binance is reportedly set to reduce its stake in GOPAX exchange. The shares sale will involve South Korea cloud service provider MegaZone. Binance is reportedly in final negotiations as it looks to reduce its shares in South Korea-based crypto exchange GOPAX. [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":34036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/34035"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=34035"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/34035\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/34036"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=34035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=34035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=34035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}