{"id":73541,"date":"2023-02-03T12:56:23","date_gmt":"2023-02-03T10:56:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73541"},"modified":"2025-09-09T14:43:13","modified_gmt":"2025-09-09T11:43:13","slug":"binance-acquires-a-controlling-stake-in-bitcoin-exchange-gopax","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-acquires-a-controlling-stake-in-bitcoin-exchange-gopax\/","title":{"rendered":"Binance acquires a controlling stake in Bitcoin exchange Gopax"},"content":{"rendered":"

Binance Holdings Ltd. acquired a controlling stake in the troubled South Korean cryptocurrency exchange Gopax. Bloomberg<\/a> reports this.<\/p>\n

The purchase was financed through a joint investment project led by Binance, the Industry Recovery Initiative, which promised to allocate $1 billion<\/a>. More detailed terms of the deal were not disclosed.<\/p>\n

Binance’s Chief Business Officer Ibo Linga said that their company has taken a “significant” stake in Gopax, which in November 2022 halted withdrawals on several products.<\/p>\n

Binance plans to invest in the exchange so that customers can withdraw their assets and earn interest on Gopax’s GoFi, the income-generating product.<\/p>\n

The parent company of Gopax, Streami Inc., is among the 10 largest known creditors of the bankrupt crypto-lending platform Genesis Global<\/a>. Genesis Global was a partner in the GoFi product offered by Gopax. Meanwhile, its parent company \u2014 Digital Currency Group \u2014 is the second-largest shareholder of the exchange.<\/p>\n

Together with its stake in the South Korean platform, Binance is returning to the market in the country it left in 2021 due to low trading volumes.<\/p>\n

In July 2022, media reported searches at Gopax’s headquarters<\/a> as part of the Terra collapse investigation.<\/p>\n","protected":false},"excerpt":{"rendered":"

Binance Holdings Ltd. acquired a controlling stake in the troubled South Korean cryptocurrency exchange Gopax.<\/p>\n","protected":false},"author":1,"featured_media":73542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1166,974,1211],"class_list":["post-73541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-centralized-exchanges-cex","tag-south-korea","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=73541"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73541\/revisions"}],"predecessor-version":[{"id":73543,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73541\/revisions\/73543"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73542"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}