South Korea’s Largest Crypto Exchange Sold to Singapore-Based Consortium

Bithumb Sold
A spokesman for Bithumb confirmed Friday that the exchange “was sold for about $354 million to a consortium led by a plastic surgeon,” Reuters reported and quoted him saying:Bk Global Consortium, led by Kim Byung-gun, plastic surgeon and blockchain platform investor, signed a deal on Thursday to buy 50 percent plus one share in the exchange’s biggest stakeholder, BTC Holdings, for about 400 billion won ($354.09 million). The deal makes Bk Global Consortium the largest stakeholder of Bithumb.

About Bithumb

In June, Bithumb said it was hacked and 11 cryptocurrencies were stolen. The estimated damage was about 19 billion won. This week, the exchange launched two indices to track the cryptocurrency markets. What do you think of Bk Global Consortium acquiring the controlling stake of Bithumb? Let us know in the comments section below.We will also promote the introduction of a stable coin to stabilize the payment system. We will be in conjunction with the global exchange scheme to take advantage of the coin linked to the US dollar.
Images courtesy of Shutterstock and Bithumb.
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