Binance, the world’s largest cryptocurrency exchange, has acquired Indonesia-based crypto exchange Tokocrypto, according to a CNBC report on Monday,
See related article: Binance re-enters Japan with acquisition of regulated Sakura Exchange BitCoin
- Tokocrypto-backed tokens rose 23% in the four hours to 8:30 p.m. Hong Kong time, according to CoinMarketCap.
- CNBC cited an acquisition statement saying that Yudhono Ravis will succeed the company’s founder and CEO Pang Xuekai as interim CEO. Pang remains a committee member of Tokocrypto.
- Tokocrypto also laid off an unknown number of staff.
- Tokocrypto became the first regulated crypto trading platform in Indonesia in 2019. In August 2022, the Indonesian Commodity Futures Trading Regulatory Agency announced the suspension of the registration of cryptocurrency exchanges.
- Binance’s acquisition of Tokocrypto followed Binance’s record net outflow of over US$3.6 billion last Tuesday. Audit firm Mazars, which issued Binance’s proof-of-reserve report, announced on Friday that it would stop working with cryptocurrency exchanges including Binance.
See related article: Binance “deliberately” caused FTX collapse, Kevin O’Leary claims
- blockchain compliance
- blockchain conference
- crypto conference
- crypto mining
- Digital Assets
- machine learning
- non fungible token
- plato ai
- Plato Data Intelligence
- proof of stake