PANews reported on December 23 that according to Bloter, Streami, the parent company of the South Korean crypto exchange Gopax, encountered obstacles in its attempt to sell to infrastructure software company Megazone. An official from Megazone admitted that although no final decision has been made, the company's plan to acquire a majority stake in Streami from Binance has encountered challenges.
Binance holds a 67.45% stake in Streami and has come under pressure from South Korea's financial regulators. Late last year, South Korea's financial regulators asked Binance to reduce its stake in Streami to below 10% to support Gopax's application for renewal of its virtual asset service provider (VASP) license. The complication of the sale lies in Gopax's cryptocurrency custody service GOFi, which holds a large amount of Bitcoin that will be returned to users. As the price of Bitcoin rises, the value of these assets has also climbed.
