Synexcrypto has acquired a controlling stake in the bitcoin exchange gopax

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

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

SynexCrypto 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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Andrew Griffin

Andrew Griffin is a cryptocurrency journalist with over 3,000 articles under his belt. He is passionate about cryptocurrencies, digital rights, information technology and futurology — the things that he likes to cover the most. Andrew previously reported for Cointelegraph and Benzinga.