Coincheck Accepts Offer From Monex Group To Acquire It

Monex’s Offer To Invest Billions In Coincheck Finally Accepted

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  • Offer from Monex Group to acquire Coincheck exchange with billions of yen finally accepted.
  • Monex installed new CEO as it takes over operations.

Japan: This is an update on the new posted earlier concerning the move by Monex to possess the ownership of the embattled crypto exchange Coincheck with lots of Yen. The latest report tells that the Monex’s offer to take over ownership of the exchange has finally been “accepted” by the crypto exchange.

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An undisclosed report states that Monex Group made a move to acquire the Japan-based crypto exchange in a business contract that involves “several billions of yen” in investment.

Following the acquisition, Yusuke Otsuka and Koichiro Wada, the incumbent COO and CEO respectively leave office, while the CEO of Monex Group, Toshihiko Katsuya, takes over.

The report added that:

“The exact form of the investment is still being finalized, with details to be announced as early as Friday.”

Toshihiko is:

“considered a sound choice to rebuild the troubled cryptocurrency exchange because of his experience as president of Monex’s online brokerage arm.”

Also read: Monex Trading Platform Offers To Buy Coincheck

This news is a confirmation of the deal, although when the news of the acquisition was first reported Monex Group quickly issued an official statement repudiating that any official agreement had taken place. The notice reads:

“Moving forward, should there be facts determined by Monex Group, Inc. that need to be disclosed, we will do so in a timely and appropriate manner.”

The hack on Coincheck exchange in January made the exchange lost $530 million hack, this resulted in a shake-up for Coincheck, with some of its operatives disappearing altogether from the market.

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