
Coinone rejected speculation of stake sale talks with Coinbase as baseless, amid regulatory proposals that could force its CEO to cut his majority shareholding.
Coinone, South Korea’s third-largest crypto exchange, denied rumors of equity sale negotiations with Coinbase, describing them as baseless. Despite the denial, shares of Com2uS Holdings, a related stakeholder, rose about 17% on Monday. The Financial Services Commission recently proposed capping major shareholders’ stakes at 15–20%, a move that could require CEO Cha Myung-hoon to lower his current 53.44% holding.