Binance Faces Pressure to Compensate GOPAX Victims Following Genesis Collapse

Binance is under increasing pressure from South Korean lawmakers to expedite compensation for victims of the GOPAX GoFi product following the collapse of Genesis Global Capital. Binance acquired a 67% stake in GOPAX after regulatory approval in October 2025, aiming to improve governance. Despite providing initial financial support of $70 million, Binance still owes another $122 million in outstanding liabilities. This situation highlights the challenges of navigating complex cryptocurrency investment products and raises concerns about user trust and market stability.