Menixcrypto has acquired a controlling stake in the bitcoin exchange gopax

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

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

MenixCrypto 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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Gustaf Kilander

Gustaf is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.