The rise in Bitcoin has led to an expansion of Gopax's debt, and the sale transaction to Megazone has encountered obstacles

2024-12-23 11:05:12

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ChainCatcher news, according to South Korean media Bloter, due to the rise in Bitcoin prices, Streami, the parent company of the South Korean cryptocurrency exchange Gopax, has encountered obstacles in the process of selling to Megazone.

Megazone revealed that it is still negotiating the acquisition of the cryptocurrency exchange GoPax (Streami). "Our official position is that there is currently no conclusion regarding the cancellation of the acquisition of GoPax."

It is reported that Binance has been in talks with MegaZone to sell 57.46% of GoPax shares (excluding its 10% stake) for re-registration, but has been hindered by the unclear scale of GoPax's debts. The debts are collateralized by Bitcoin prices, and the continuous rise in Bitcoin prices has increased the scale of the debts.

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