TechFlow News: On May 29, according to The Block, OKX Ventures and Korean investment securities firm KIS will each invest 80 billion KRW (approximately $53 million), acquiring 19.6% equity stakes in South Korean cryptocurrency exchange Coinone. The transaction remains subject to regulatory approval.
The total transaction value amounts to 160 billion KRW (approximately $106 million), to be completed via purchases of existing shares and subscriptions to newly issued shares. Upon completion, Coinone CEO Cha Myunghun will retain a 27.8% stake—making him the largest shareholder—and maintain management control; Com2uS Holdings and its affiliates will hold 25%, while OKX Ventures and KIS will jointly rank as the third-largest shareholders.
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