Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others. In addition, the exchange is likely to slash 58% of its workforce. As the acquisition of this exchange is complete, Pang Kai will step down as the CEO, while Yudhono Rawis will serve as the interim CEO. Tokocrypto co-founder Pang Kai said the acquisition would help the exchange leverage Binance’s capabilities to continue contributing to advance Indonesia’s digital economy. Binance had about a 60% stake in Tokocrypto as it made its first investments in the exchange. The complete acquisition of the exchange will be finalized as Binance completes 100% acquisition of the share ownership. Later Binance injected more funds to ensure that its ownership of the Indonesian exchange is increased. CZ confirmed that Binance had been a majority shareholder since 2020. There are hopes that the market will resume momentum soon.īinance has completed the acquisition of Tokocrypto exchange, as a result of which TOKO surged 10%. As the negative trend persists, the market will continue regressing in value. The market might continue to stay bearish as the downward pull continues to be stronger. In comparison, the value of Ethereum has continued to improve as it showed a positive trend. The performance of Bitcoin and others shows that there has been a dominant bearish trend. The global crypto market has seen a negative trend over recent hours.
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