Binance "Commitment to compensate GoFi unchanged… must resolve regulatory and shareholder procedures first" [BBW 2025]

Binance once again stated that its "willingness to compensate" GoFi investors, which was a condition of the Gopax acquisition, "has not changed." However, it drew a line saying the specific timing depends on Gopax license renewal, the resolution of shareholder and corporate structure issues, and approvals from regulators such as the Financial Intelligence Unit (FIU), so it cannot be decided by Binance alone.

SB Secker, Binance's Asia-Pacific (APAC) head, said on the 3rd (local time) at a Binance Blockchain Week 2025 press briefing held at the Coca-Cola Arena in Dubai, "We understand that GoFi investors consider the outcome to be the most important thing." He explained, "From the time of the Gopax acquisition, we proceeded on the premise of how to resolve GoFi-related issues."

Secker cited Gopax license renewal and the sorting out of governance as prerequisite conditions before GoFi compensation. He said, "License renewal is necessary, and after the acquisition, various company- and shareholder-level measures related to shareholder and corporate structure need to be completed," adding, "These are essential preconditions to resolving the GoFi issue."

Binance also disclosed that it is in contact with South Korea's regulatory agency, the Financial Intelligence Unit (FIU). Secker said, "We are continuing consultations with regulators on this matter, including the FIU," and added, "Our goal is to provide the best solution for Korean customers." He went on, "We have been consistently involved in this process from the beginning, and that position has not changed."

However, when asked "when compensation will be made," he said they do not have control over the timeline. Secker said, "The timeline is not entirely under our control." While Binance can make the necessary applications and preparations, the timing of approvals related to licenses and shareholders depends on decisions by regulators and stakeholders.

Secker nonetheless emphasized that Binance's commitment to the Korean market remains. He described Korea as a market leading digital asset adoption and said, "We want to participate in the Korean market and are moving aggressively to accelerate the related procedures." This implicitly conveyed that GoFi compensation remains an important pillar of Binance's Korea strategy.