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Sam Bankman-Freed-owned cryptocurrency exchange FTX is in early talks to acquire South Korean platform Bithumb. Reported by Bloomberg citing an anonymous source. According to him, the companies have
Sam Bankman-Freed-owned cryptocurrency exchange FTX is in early talks to acquire South Korean platform Bithumb. Reported by Bloomberg citing an anonymous source.
According to him, the companies have been discussing “something hidden for several months”.
“We cannot confirm anything at this stage,” a Bithumb spokesperson told the agency.
FTX declined to comment.
In September 2020, Seoul police conducted a series of raids on Bithumb’s offices and confiscated a portion of Bithumb Holdings shares owned by Bithumb Korea director Kim Byung-gyong.
At the same time, the CEO of the exchange, Lee Jong Hoon, was called for questioning in the case of fraud with the native Bithumb BXA token. Amid reports of Bithumb’s problems with authorities, the media reported that the company was relisted.
The possibility of acquiring Bithumb is allegedly being explored by cryptocurrency exchange Huobi.
In January 2021, journalists named the gaming company Nexon Group as a possible buyer of Bithumb. Representatives of the latter denied reports of a possible deal for 500 billion won (~$457 million).
In the spring, it was learned that South Korean internet giant Naver entered negotiations to buy the exchange. At the time, the media reported that there were at least ten companies claiming to own shares in Bithumb.
Before that, Morgan Stanley, one of the largest American banks, was on the list. Potential buyers included Deutsche Bank, JPMorgan, Visa, a subsidiary of the CME exchange, Binance, and several other unnamed entities.
Earlier, Sam Bankman-Fried promised to spend “billions” on buying shares in other companies. However, the bitcoin exchange reportedly plans to acquire “troubled” cryptocurrency mining firms and take over online broker Robinhood.
Recall that in May 2022 the head of FTX said that the purpose of the platform is to offer investors a wide range of products, including trading classic stocks.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
