Coincheck’s Bailout!! They Get A Second Chance....

As we know Coincheck has been under a lot of fire lately. Mostly, due to their exchange being hacked for millions. Recently, it was affirmed that Coincheck did meet the terms and conditions of Monex’s requirements in regards to the acquisition of the exchange. This means that Monex is going to be taking over Coincheck which is one of the largest Japanese exchanges. Let me remind you that it was the exchange that had the largest hack in cryptocurrency history according to dollar value.

One of the things to note is that Coincheck is going to shuffle its management around in an attempt to regain investor trust with Toshihiko Katsura as the chief operating officer with Monex as president. In addition, as soon as Coincheck receives the new capital, the founding President Koichiro Wada and chief operating officer Yusuke Otsuka will step down.

As a result, the Monex Gruop, A leading online brokerage plans to improve its competitiveness by acquiring Coincheck, which has key technologies and an attractive customer base. Overall, Japan has been a very positive country when it comes to embracing cryptocurrency. What are your thoughts?