Coinbase Wants a Piece of Korea?

by

So, South Korea’s Coinone might be getting a new owner. Apparently, Coinbase is sniffing around. Honestly, it’s like watching sharks circle, isn’t it? A bit dramatic, a lot of money. Consolidation, they call it. I call it someone getting a really nice new yacht.

Apparently, the third-largest crypto exchange over there, Coinone, is potentially…available. Like a slightly used handbag on the digital marketplace. And wouldn’t you know it, Coinbase is popping over for a look. A “look,” they say. I bet it’s more of a full-on financial forensic investigation.

Coinone Up For Grabs As Coinbase Drops By

The Seoul Economic Daily – who doesn’t love a good economic daily? – says Coinone’s Chairman, a chap named Cha Myung-hoon, is exploring “strategic options.” Which, translated from Business Speak, means “I might be selling.” He and his pals own a hefty 53.44% of the thing. Meanwhile, Com2uS has 38.42%. Someone needs to learn how to share, honestly.

Seoul Economic Daily reports that South Korea’s third-largest crypto exchange Coinone is up for sale… Coinbase will visit Korea this week to discuss equity…

– Wu Blockchain (@WuBlockchain)

Word on the street (by “street” I mean “industry sources”) is that Coinbase reps will be in Korea towards the end of January 2026. Discussing “equity investment and broader cooperation”. Right. Because that’s always what they mean. It’s always just about cooperation. My eyes roll so hard they almost detach.

Related Reading: $48M in Bitcoin Vanished Because Someone Fell For a Phishing Scam. Seriously.

Coinone’s officially acknowledged chatting with overseas and domestic entities. “No specifics yet,” they say. Oh, how mysterious. But it all fits neatly into Coinbase’s 2026 “everything exchange” plan, which basically means world domination, one exchange at a time.

Chairman Cha’s back in charge, having taken a little break. Apparently, this is “preparation for a potential stake sale”. It’s like, “Oh, I’m just tidying up before you come to value the house.” He’s a former white hat hacker, which, frankly, is the only kind of hacker I remotely trust. Coinone’s allegedly close to double-digit market share – give or take a few cryptocurrency bubbles.

And get this: while he was off having a break, they built an AI team. An AI team. Because apparently, humans aren’t clever enough to secure cryptocurrencies anymore. Which, you know, fair enough, actually.

Regulatory Headaches & the Great Crypto Shuffle

South Korea’s regulators are getting all heavy-handed, possibly limiting shareholders to 15-20%. Which is a bit of a nuisance if you’re used to owning, like, 50%. Forces people to…restructure. Fancy word for “sell off bits.”

Com2uS might be looking to dump their stake, too. Apparently, Coinone’s been a bit of a money pit. The book value’s taken a tumble since they bought in a couple of years ago. Ouch. Investing in crypto. Always a safe bet, right?

Coinone’s also looking at buying into other exchanges, and everyone’s throwing money around like confetti. It’s all very…freewheeling. More mergers are happening all the time – Naver and Dunamu, Mirae and Korbit, Binance trying to wiggle its way in. It’s getting crowded.

South Korea’s a hot market. People there apparently enjoy trading crypto more than actual stocks. Who knew? They’re even considering letting ETFs happen in 2026. Which is exciting if you’re into that sort of thing. Honestly, I just like watching the chaos unfold.

Read More

2026-01-26 11:02