Coinone Denies Rumors of Equity Transaction with Coinbase, Calling Related Reports Unfounded

Odaily News: South Korea's third-largest cryptocurrency exchange, Coinone, has denied being in negotiations with Coinbase regarding a stake sale, stating that such claims are "unfounded."

Previous reports indicated that South Korea's third-largest exchange, Coinone, plans to sell its major shareholder's stake and is in talks with overseas crypto exchanges for potential investment.

Despite Coinone's public denial of the rumor, the share price of its second-largest shareholder, Com2uS Holdings, still surged by approximately 17% at one point on Monday, indicating high market sensitivity to merger and acquisition-related news.

Furthermore, South Korea's Financial Services Commission recently proposed setting the maximum shareholding ratio for major shareholders of cryptocurrency exchanges between 15% and 20%. Currently, Cha Myung-hoon holds about 53.44% of Coinone's shares. If the relevant regulatory rules are formally implemented, he may be required to passively reduce his holdings.