Vidente, the owner of South Korean cryptocurrency exchange Bithumb, stated on Tuesday it has actually held conversations about a possible sale of its stake to FTX. Talks of another acquisition become part of FTX and its creator Sam Bankman-Fried’s (above) aggressive acquisition method amidst a significant slump in the cryptocurrency market.
Stefani Reynolds|Bloomberg|Getty Images
Vidente, the owner of South Korean cryptocurrency exchange Bithumb, stated on Tuesday it has actually held conversations about a possible sale of its stake to FTX.
The business stated it is evaluating all possible choices, consisting of a complete acquisition of Bithumb or joint management of the exchange.
However, no particular strategy has actually been chosen, Vidente stated.
Talks of another acquisition become part of FTX and its creator Sam Bankman-Fried’s aggressive acquisition method amidst a significant slump in the cryptocurrency market, which has actually seen billions of dollars in worth devitalized in the last couple of months.
Last month, FTX signed an offer offering it the choice to purchase crypto financing business BlockFi at an optimal rate of $240 million, substantially lower than the company’s previous $4.8 billion appraisal.
Earlier this year, FTX participated in a contract to obtain Japanese crypto exchangeLiquid If the handle Bithumb goes through, FTX will acquire additional grip in Asia and in specific South Korea, where crypto trading is preferred.
Bithumb is among South Korea’s biggest exchanges. At its peak in the last 24 hours, it processed simply over $500 countless trades, according to information from CoinGecko.
