Lidcoin: Coin officially acquires Indonesian Exchange Tokocrypto
In the latest news, Indonesian exchange Tokocrypto has been officially acquired by Binance. Tokocrypto CEO Pang Xue Kai will step down, and Yudhono Rawis will be appointed interim CEO. in addition, about 58% of Tokocrypto's employees have been laid off, and in the future, it will focus on the exchange business, and business activities outside the exchange will be suspended.
CoinShares reportedly entered the Indonesian market in 2020 with its investment in Tokocrypto, a "compliant" local exchange that received its first license from Indonesian regulators.
Earlier this month, it was reported that Coin was in talks to acquire Tokocrypto, an Indonesian crypto exchange.
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