Big was most people’s surprise when Monex announced the acquisition of Coincheck With this latter exchange being hacked earlier, this news seemingly makes little sense. At the same time, Monex has some big plans for this trading platform in the future. A very interesting future lies ahead for these companies, to say the very least.
A few weeks ago, Monex made their plans to acquire Coincheck very clear. The online brokerage firm took a keen interest in the troubled exchange since it was hacked. For now, the focus lies on reviving this exchange and ensuring it can remain operational. With the acquisition completing as of yesterday, it is time to look toward the future.
What Does the Future Hold for Coincheck?
More specifically, Monex Group made it clear they won’t change much. There are no personnel changes, which will put most people’s minds at ease. With Coincheck still noting a profit as of March 31st, things are not looking all that bad either. The 71 employees will remain onboard, and the 1.7 million users will not see any big changes.
Moreover, none of the employees need to take a salary cut. That was one of the biggest concerns regarding this recent acquisition. A change in management often leads to cost-cutting measures, but that will not be the case. It is of the utmost importance Coincheck remains operational as it has been before. Additionally, the new owners aim to achieve a new license to Coincheck at some point in the next two months.
It will be quite interesting to see how this situation evolves. The confidence in Coincheck remains relatively high. However, there are still pending lawsuits against this trading platform as we speak. Those lawsuits will not disappear regardless of the new management. As such, the new owners have put themselves in a very dangerous position. Rest assured this is not the last we hear about this particular exchange.
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