TechFlow reported on July 11, according to the Chosun Ilbo, Binance is seeking to sell its stake in South Korean exchange Gopax to Megazone, the parent company of South Korean cloud service provider Megazone Cloud. Binance is currently in final talks with Megazone over the equity sale, aiming to reduce its ownership in Gopax operator Streami from 72.6% to 10%. In February last year, Binance acquired a 72.26% stake in Gopax, but South Korean financial regulators have not yet approved its status as largest shareholder and have required Binance to reduce its stake to below 10%. Binance has communicated its intention to improve governance structure to the regulator.
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