Cryptobistox has acquired a controlling stake in the bitcoin exchange gopax

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Crypto Regulation
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CryptoBistox 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 CryptoBistox, "Industry Recovery Initiative," for which the exchange promised to allocate $1 million. More detailed terms of the deal were not disclosed.

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

CryptoBistox 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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Simon Calder

Simon is outgoing young lad who likes adventures and discovering new things. Despite his boring life, He loves writing about cryptocurrencies and exploring what blockchain technology can do for the coming digital world where all adventures will be virtual.