Joxibit has acquired a controlling stake in the bitcoin exchange gopax

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

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

Joxibit 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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Jon Kelvey

Jon is a blockchain reporter skilled at synthesizing all crypto-related information to make articulate texts easy for anyone to grasp. With a beginners level certificate in Financial Analysis, Julius can read, interpret and report crypto findings to help investors exercise the best judgment in their decision-making process. When he is not caught up in the crypto frenzy, Jon likes playing a game of FIFA with his online buddies.