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Binance finalizes sale of majority stake in Gopax

Binance, a leading cryptocurrency exchange, has announced plans to sell a majority stake in Gopax to Megazone, according to recent reports. This strategic move aims to strengthen Gopax’s position in the South Korean market while aligning with Binance’s broader business strategy.

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Binance, a leading cryptocurrency exchange, has announced plans to sell a majority stake in Gopax to Megazone, according to recent reports. This strategic move aims to strengthen Gopax’s position in the South Korean market while aligning with Binance’s broader business strategy.

Sources indicate that the sale of the majority stake in Gopax, a cryptocurrency exchange based in South Korea, is part of Binance’s efforts to comply with regulatory requirements and focus on core operations. The transaction highlights Binance’s commitment to regulatory compliance and enhancing market competitiveness through strategic partnerships.

Megazone, a prominent cloud and managed services provider in South Korea, is expected to leverage its expertise and resources to support Gopax’s growth and expansion initiatives. The acquisition is anticipated to facilitate Gopax’s ability to innovate and offer enhanced services to its users within the local cryptocurrency ecosystem.

The move underscores the dynamic nature of the cryptocurrency industry, with exchanges adapting to regulatory changes and strategic opportunities to foster sustainable growth. Binance’s decision to sell a majority stake in Gopax reflects its strategic alignment with market dynamics and regulatory compliance imperatives.

As the transaction progresses, stakeholders in the cryptocurrency community are monitoring developments to assess the impact on Gopax’s operations and market positioning. The partnership between Binance and Megazone is poised to enhance collaboration within the South Korean cryptocurrency market, driving innovation and fostering a secure and compliant environment for digital asset trading.

With regulatory frameworks evolving globally, exchanges like Gopax are expected to play a crucial role in shaping the future of cryptocurrency adoption and market integrity. Binance’s strategic divestiture of Gopax underscores its commitment to regulatory compliance and strategic focus on core business priorities amidst a rapidly evolving digital financial landscape.

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Hong Kong introduces crypto staking rules, reaffirms Web3 commitment

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Hong Kong’s Securities and Futures Commission (SFC) has introduced new guidelines for crypto staking services, signaling the region’s continued commitment to fostering a regulated and innovation-friendly Web3 ecosystem.

The new rules clarify how virtual asset trading platforms can offer staking products, emphasizing investor protection, risk disclosures, and operational transparency. Licensed platforms will be required to clearly separate client and company assets, provide detailed staking mechanisms, and maintain robust custody arrangements.

The SFC’s move comes as part of its broader strategy to establish Hong Kong as a leading digital asset hub while ensuring regulatory clarity. Officials reiterated that the city remains focused on promoting Web3 development through structured oversight and openness to innovation.

The staking framework aims to strike a balance between encouraging market growth and protecting investors from potential risks tied to volatile or opaque staking schemes. Industry participants have welcomed the clarity, viewing it as a positive step toward legitimizing crypto services in the region.

As global jurisdictions wrestle with how to regulate staking and other decentralized finance (DeFi) offerings, Hong Kong continues to position itself as a model for responsible crypto advancement.

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Nearly 400,000 FTX users risk losing $2.5 billion in repayments

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Thousands of FTX creditors risk forfeiting a collective $2.5 billion in claims after failing to meet a key Know Your Customer (KYC) deadline required for participation in the collapsed exchange’s bankruptcy recovery process.

The deadline, which required creditors to verify their identities through FTX’s designated platform, was part of court-approved procedures aimed at ensuring compliance and streamlining the payout process. Those who missed the cutoff may now be excluded from receiving distributions, despite having filed valid claims.

FTX’s restructuring team had issued multiple reminders ahead of the deadline, warning that failure to complete KYC could result in disqualification. The platform’s terms of distribution emphasize regulatory obligations and the need to confirm user identities before funds can be released.

With creditor payouts expected to begin later this year, the exclusion of non-compliant claimants could significantly impact the final distribution pool. Legal experts note that while there may be limited recourse for those who missed the deadline, further legal action or appeals could still arise.

The development marks another dramatic twist in the FTX bankruptcy saga, highlighting the complexities of asset recovery in one of crypto’s largest corporate collapses.

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Memecoin platform Pump.fun brings livestream feature back to 5% of users

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Memecoin platform Pump.fun has reinstated its popular livestream feature, allowing users to once again track real-time token launches and market activity across the Solana-based ecosystem. The move comes as retail interest in memecoins continues to surge, with the platform playing a central role in driving viral token creation.

The livestream had previously been disabled due to overwhelming traffic and infrastructure constraints. Its return reflects both improved backend capacity and a response to user demand for more interactive, real-time insights into the platform’s fast-paced environment.

Pump.fun enables users to launch tokens with minimal technical knowledge, contributing to a flood of micro-cap coins and community-driven speculation. The livestream gives users a dynamic view of new listings, price action, and trending tokens as they emerge.

As memecoin trading grows more competitive — and increasingly chaotic — Pump.fun’s decision to bring back the feature reinforces its position as a hub for the next generation of decentralized, meme-fueled market experiments.

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