ChainCatcher reported that according to Coindesk Indonesia, Binance said it will increase its stake in Tokocrypto to nearly 100% in stages. In addition, Tokocrypto's CEO and co-founder Pang Xue Kai will resign as CEO and Yudhono Rawis will serve as interim CEO.
Rieka Handayani, vice president of corporate communications at Tokocrypto, said that after the acquisition, Tokocrypto plans to focus on the exchange business unit, temporarily stop the operations and activities of business units other than the exchange, and will lay off about 58% of its employees. (CoinDesk)
