Binance slutför Tokocrypto Acquisition, 58% Workforce sparkad
- Binance har officiellt meddelat förvärvet av den ledande kryptobörsen, Tokocrypto, som är baserad i Indonesien.
- Börsen syftar till att utöka tjänsterna på den indonesiska marknaden med förvärvet.
- Omkring 58% av de anställda på Tokocrypto har fått sparken på grund av marknadsförhållanden.
- Binance’s Portfolio Company CEO Yudhono Rawis will serve as interim CEO for Tokocrypto.
- Tokocrypto’s co-founder and CEO, Pang Xue Kai, will soon resign from his position.
The crypto winter has not disrupted the goals of continuous dominance of the world’s biggest crypto exchange, Binance, which is under the leadership of Changpeng “CZ” Zhao. The leading crypto firm has officially announced the acquisition of Indonesia-based crypto exchange Tokocrypto, confirming the rykten som cirkulerade den 6 december angående detsamma.
Enligt pressmeddelandet som delas med CoinDesk Indonesien, Tokocrypto’s co-founder and Chief Executive Officer, Pang Xue Kai, will soon resign from his position at the company. During the acquisition process, Binance’s portfolio company CEO, Yudhono Rawis, will serve as interim CEO for Tokocrypto.
However, the announcement clarifies that Kai will still be a member of the Board of Commissioners for Tokocrypto and continue to offer leadership support in his new role. Kai claims that this decision was made after considerable thought, relying on Binance’s ability to provide a physical trading platform for crypto assets.
“Tokocrypto came from our idea more than four years ago and I am very proud to see every growth, achievement, and contribution that the company has made to advance Indonesia’s digital economy. This decision was made after careful consideration and we decided that the best step for Tokocrypto going forward is to leverage Binance’s ability to build a further crypto asset physical trading platform,” he stated.
It is important to note that Indonesia’s leading exchange has laid off 58% of its employees due to unstable crypto market conditions following the acquisition of Binance. According to Tokocrypto’s LinkedIn page, it currently has around 290 employees. In September, the company let go of 45 employees. This confirms that the crypto winter has left many crypto employees without jobs. As earlier reported by Bitnation, crypto trading firm Amber Group sade upp 10% av sina anställda.
Intressant nog har Binance alltid stött idén bakom Tokocrypto, eftersom de tidigare har investerat i den indonesiska börsen sedan 2020. Med tanke på att Tokocrypto innehar en kryptolicens i Indonesien, räknar Binance med att växa sin kundkrets där som ett resultat av förvärvsaffären. Utbytet har också debuterat “Binance Pay” option for all the people in the US, vilket gör det möjligt för dem att använda sina smartphones.
Binance, which sees the crypto winter as an excellent opportunity for expansion, has struck similar deals before. It bought Japan’s Sakura Exchange Bitcoin (SEBC) last month to re-enter the nation. Moreover, the world’s largest exchange also purchased a significant share in Malaysia’s MX Global, a licensed platform for trading digital assets.
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