ChainCatcher news, according to IT Chosun, Binance is in last-minute negotiations with Megazone Cloud's parent company Megazone to sell its stake in Streami, the operator of the Korean crypto exchange Gopax, reducing its 72.6% stake in Streami to 10%. People familiar with the matter said Binance is seeking to sell its shares to improve the governance structure required by the financial authorities to fix the change report before renewing the real-name account contract with Jeonbuk Bank in August, and the transaction will be completed by the end of this month.
Binance acquired a 72.26% stake in Gopax in February last year. Later, in March of the same year, Binance reported a change in its largest shareholder, but the South Korean financial authorities have not decided whether to accept Binance’s statement for the past year and three months.
An official from Megazone explained: “We are discussing various forms of collaboration, including acquisition of stakes, subject to government approval, however, no concrete decision has been made on the future process or timing.