Bithumb, the largest cryptocurrency exchange in South Korea by trading volume, is being sold for the equivalent of about $353 million to a Singapore-based investor group, local portal Naver reported on Friday. BK Global Consortium, which is led by plastic surgeon Kim Byung-gun, will pay 400 billion won for a majority stake in Bithumb.
Previously, the investor group held a minority stake in the crypto exchange operator. It is now assuming control of Bithumb by purchasing 50% plus one share in BTC Holdings, the largest stakeholder in the exchange. The transaction is set to close in February, Bloomberg
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.