GOPAX makes their third President change of the year—CEO of CityLabs, Youngjoong Cho takes over

South Korean cryptocurrency exchange GoPax operator Streamy has appointed CityLabs CEO Youngjoong Cho as its new CEO. It’s been about two months since the previous CEO, Dong-Hoon Lee, stepped down.

According to industry reports on the 13th, Streami recently held a board meeting and voted to appoint Cho as the new CEO of CityLabs. Accordingly, Gopax will resubmit the change of CEO. KOSDAQ-listed Citi Labs acquired an 8.55 percent stake in Streami on March 22, making it the second-largest shareholder of GoPax.

This is the third time this year that Gopax has changed leadership. In February, Binance appointed Leon Fung, head of Binance’s Asia-Pacific region, to lead GoFX. However, after a delay in the review of GoPax’s change of name to the Financial Intelligence Unit (FIU), the company appointed former GoPax deputy CEO Dae-Hoon Lee as the new CEO after four months.

However, the board of directors passed a resolution in August to dismiss Lee as the review process was prolonged due to the review of foreign executives. The new CEO, Cho, is expected to focus on the review of Gopax’s change of name for virtual asset businesses.

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