According to a CNBC report on Monday, Binance, the world’s largest cryptocurrency exchange, has acquired Indonesia-based crypto exchange Tokocrypto. According to CoinMarketCap, Tokocrypto-backed tokens rose 23% in four hours to 8:30 p.m. Hong Kong time. According to an acquisition statement, Yudhono Ravis will take over as interim CEO for the company’s founder and CEO Pang Xuekai. Pang is still a Tokocrypto committee member. Tokocrypto also laid off an unspecified number of employees.