PANews reported on January 27th that, according to BeInCrypto, Coinone, South Korea's third-largest cryptocurrency exchange, denied reports that it was in talks to sell a stake to Coinbase, calling the rumors "baseless." Previously, local media reported that Coinone Chairman Cha Myung-hoon was considering selling some of his shares, and that Coinbase executives would visit South Korea this week to meet with major local platforms, including Coinone. Despite the denial, the market reacted strongly. Shares of Coinone's second-largest shareholder, Com2uS Holdings, surged by over 17% after the rumors surfaced.