South Korean exchange Coinone's majority shareholder explores stake sale

South Korean cryptocurrency exchange Coinone, the country's third-largest, is exploring a partial sale of its majority shareholder's stake, the Seoul Economic Daily reported. According to financial industry sources, Chairman Cha Myung-hun is in the process of selling a portion of his holdings. Cha holds a controlling 53.44% stake in the exchange, combining his personal 19.14% share with the 34.30% held by his company, The One Group. A Coinone official stated that the company is in discussions with overseas exchanges and domestic financial firms about potential equity investments and other partnerships. The official added, however, that the specific details of any arrangement have not yet been determined.