TechFlow News, January 27: According to BeInCrypto, South Korea’s third-largest cryptocurrency exchange, Coinone, has explicitly denied reports that it is in talks with U.S. exchange giant Coinbase regarding the sale of equity stakes, calling such reports “baseless.” Nonetheless, Coinone’s second-largest shareholder, Com2uS Holdings, saw its stock price surge 17% amid acquisition speculation. This rumor emerged as consolidation accelerates across South Korea’s crypto market, with the Financial Services Commission (FSC) considering limiting major shareholders’ ownership stakes in exchanges to 15–20%. Currently, the South Korean market is highly concentrated, with Upbit and Bithumb collectively holding 97% of market share, while Coinone accounts for only approximately 6.6%.
Earlier reports indicated that Coinone, South Korea’s third-largest cryptocurrency exchange, was seeking to sell a portion of its shares.
