Ruling Party's Min Byung-deok to meet Binance CEO… to discuss 'Gopax incident'

JOON HYOUNG LEE

Summary

Min Byung-deok, a lawmaker of the Democratic Party of Korea, will meet with the CEO of the world's largest cryptocurrency exchange Binance to discuss the Gopax incident, it was reported.
Binance said that when it acquired Gopax in 2023, it had promised responsibility for GoFi redemption.
Min's office said the meeting with Teng CEO is to gather opinions from both sides.

*Min Byung-deok, Democratic Party of Korea lawmaker. Photo=reporter Lee Jun-hyung*

Min Byung-deok, a lawmaker of the Democratic Party of Korea, will meet the chief executive officer (CEO) of the world's largest cryptocurrency exchange Binance to discuss the 'Gopax incident'.

According to industry sources on the 4th, Min plans to meet Richard Teng, Binance CEO, at a location in Seoul next week. Teng is reported to be visiting Korea next week to attend a forum held domestically.

Min and Teng plan to discuss matters related to the Gopax incident at their meeting next week. Earlier, Binance acquired the domestic cryptocurrency exchange Gopax in 2023 to enter the Korean market. At the time of the Gopax acquisition, Binance promised responsibility for GoFi redemption.

Min has been steadily involved in discussions related to the GoFi incident. Earlier, in May, Min also met with representatives of the victims of the GoFi incident. A Min's office official said, "(We are) broadly looking into the GoFi incident," and added, "(The meeting with Teng CEO) is to gather opinions from both sides."