Coinone majority shareholder reportedly exploring stake sale

Coinone, South Korea's third-largest cryptocurrency exchange, is on the market, the Seoul Economic Daily reported. According to financial industry sources, the exchange is proceeding with the sale of a portion of the stake held by its chairman, Cha Myung-hun. Cha holds a majority stake of 53.44%, combining his personal holdings of 19.14% with the 34.30% owned by his private company, The One Group. The report also raises the possibility of an investment from Coinbase, the largest exchange in the U.S., which is scheduled to visit South Korea this week for meetings with major local firms, including Coinone. A Coinone official confirmed that the company is discussing cooperation plans, including equity investments, with overseas exchanges and domestic financial firms, but added that no specific arrangements have been finalized.