Odaily Odaily reports that Coinone, South Korea's third-largest crypto exchage, has denied that it is in talks with Coinbase regarding a potential sale of its shares, stating that the claims are "baseless."
Previous reports indicated that Coinone, South Korea's third-largest cryptocurrency exchange, planned to sell its major shareholder's stake and was in talks with overseas crypto exchage regarding potential investments .
Despite Coinone's public denial of the rumor, shares of its second-largest shareholder, Com2uS Holdings, rose by about 17% on Monday, demonstrating the market's high sensitivity to merger-related news.
Furthermore, South Korea's Financial Services Commission recently recommended setting the shareholding cap for major shareholders of crypto exchage at 15% to 20%. Currently, Cha Myung-hoon holds approximately 53.44% of Coinone's shares, and if the relevant regulations are formally implemented, he may be forced to reduce his shareholding.
