South Korea’s Coinone Explores Sale of Chairman’s Stake
South Korea's third-largest cryptocurrency exchange, Coinone, is exploring the sale of a stake held by its chairman and largest shareholder, Cha Myung-hoon. According to a report, the potential sale involves Cha's 53.4% stake, which includes his personal holdings and shares owned by his company, The One Group.
Coinone is in preliminary discussions with overseas exchanges and local financial institutions regarding equity investments, though no specific decisions have been made. The report also suggests shares from the second-largest shareholder, gaming firm Com2uS, may be included.
This move follows financial pressures at Coinone, which reported recent losses and a decreased book value. U.S.-based Coinbase may be involved in the sale, with officials scheduled to visit South Korea for meetings. The discussions remain preliminary, and no deal has been finalized.
TheNewsCrypto01/26 08:48
