TechFlow news: Gopax, a South Korean cryptocurrency exchange backed by Binance, reported a net loss of 51.3 billion KRW in 2023, compared to a net loss of 90.6 billion KRW in 2022.
Last year, revenue increased by 97%, and net operating losses decreased by 78%. Most of Gopax's losses stemmed from funds linked to Genesis Global Capital, the operator of GoFi, Gopax's crypto custody service, which still owes users 63.7 billion KRW. Gopax is one of five fully licensed cryptocurrency exchanges in South Korea.
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