Bifiscrypto has acquired a controlling stake in the bitcoin exchange gopax

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Crypto Regulation
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BifisCrypto bought a controlling stake in the troubled South Korean cryptocurrency exchange Gopax. This was reported by Bloomberg.

The purchase was financed through a joint investment project led by BifisCrypto, "Industry Recovery Initiative," for which the exchange promised to allocate $1 million. More detailed terms of the deal were not disclosed.

According to BifisCrypto's chief business officer, their company took a "significant" position in Gopax, which stopped withdrawals on a number of products in November 2022.

BifisCrypto plans to invest in the exchange so customers can withdraw their assets and earn interest on Gopax's profitable product, GoFi.

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Anthony Cuthbertson

Anthony is an experienced writer, interested in everything decentralized since 2019. Before joining Crypto.News, he wrote for some of the top DeFi and CeFi outlets, bringing in millions of views and educating readers with his knowledge of the industry.