Crypto exchange Binance announced on 3 February that it had acquired a majority stake in the South Korean crypto exchange Gopax. The acquisition is part of its Industry Recovery Initiative to support industry players negatively influenced by the crypto turmoil last year. Gopax halted the withdrawal of principal and interest payments in its decentralized finance service GoFi in November 2022 due to the upstream challenges faced by Genesis Global Capital. The deal is expected to allow Gopax’s customers to withdraw their assets from the account in full.