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- Coinone explores a possible sale amid industry consolidation.
- Chairman Cha weighs stake options as losses persist.
- Coinbase plans talks on equity and cooperation in Korea.
Seoul Economic Daily reports that Coinone has entered a sale review. The exchange ranks third in South Korea by volume. Chairman Cha Myung-hoon considers selling part of his holdings. He also reviews other strategic options.
Market interest has grown as regulation tightens. Firms now seek scale and capital. Coinone confirms discussions with partners. These talks include equity investment and cooperation. Overseas exchanges and local financial groups remain involved. The company has not set a final structure. Decision makers continue internal reviews.
Industry sources say preparations have advanced. Advisors have mapped several paths. The process reflects broader market pressure. Exchanges face higher compliance costs. Competition has intensified across the region. Coinone aims to secure stability and growth. The sale review signals urgency and opportunity.
Coinone Leadership Control Remains Strong
Chairman Cha owns a total of 53.44 percent. His personal stake is valued at 19.14 percent. His company, The One Group, owns 34.30 percent. Com2uS is the second-largest shareholder. It owns a total of 38.42 percent.
Both stakes may be on the market. Chairman Cha took back management leadership. He took it back after four months of relinquishing it. He is ready to sell.
Coinone has a different reason for its move. The reason is technology leadership. The market share is close to double digits. Chairman Cha made his reputation as a security expert. He used to be a white hat hacker. Chairman Cha still works on products.
He assembled a team of AI experts. Product development is still a priority. Losses are still impacting valuation. Book value is now 75.2 billion won. This is down from the initial purchase price. Com2uS bought the shares in 2021 and 2022.
Coinbase is planning a visit to Korea this week. The US exchange plans to visit large Korean companies. Coinone is on the top of the agenda. Talks will be about equity participation and cooperation. Korean investor demand is still high.
Compliance Shapes New Crypto Strategies
Global entities demand compliant products. Domestic laws demand differentiated structures. Partners may be able to assist with market entry. The timing is right for further consolidation. Virtual asset markets are now institutionalized at speed. Naver Financial and Dunamu have entered into a merger deal.
The decision has been made to undergo a comprehensive stock swap. The acquisition of Korbit by Mirae Asset Securities is under consideration. Binance is planning to lay out a strategy to make deeper inroads. The acquisition of GOPAX by Binance has been approved. This is redefining the competitive scene.
Coinone is required to make a decisive move. This will decide the future of Coinone, either through sale or partnership. The regulatory authorities are keeping a watchful eye on every single move. Compliance will be the key to the success of the deal, if it goes through.
The investors are keenly observing the timelines and valuations. The employees need more clarity. The services need to be provided uninterruptedly to the customers. The coming weeks will decide the future of Coinone. Coinone is at a strategic crossroads. The decisions taken will decide the future in terms of trust, scale, and survival in the crypto space in Korea.
Read More: Bitcoin Open Interest Plummets as Binance Dominates – What’s Behind the Shift?
