Crypto exchange Binance and its CEO Changpeng Zhao are making headlines once again as news of the company’s acquisition moves hit the industry. According to recent news, Binance acquired a 41% stake on Korean crypto exchange Gopax. The deal was originally scheduled to be revealed last year, and it involved Binance buying the stock holding from Lee Jun-hang, Gopax’s top stakeholder. BNB, Binance’s native token, took the news to heart with a weekly gain of 5.5%. As of this writing, BNB is trading at $255, data from Coingecko shows. Related Reading: ApeCoin: Will January See The End of APE’s Recovery? Binance And South Korea, A Mixed History This has not been the first time Binance entered a business venture in Korea. In the period of 2020 to 2021, Binance KR trading pairs and a hard shutdown of the service in the country was completed. This was due to tight crypto regulation in the country. Gopax was hit hard after FTX collapsed. During this time, the exchange experienced a liquidity problem forcing the Korean exchange to suspend payments. ..
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