íàçâàíèå

Bithumb Sells $350 Million Stake in Its Cryptocurrency Exchange to a Blockchain Consortium

[img]https://ethereumworldnews.com/wp-content/uploads/2018/10/Hackean-a-Bithumb-fondos-perdidos-ser?n-pagados-por-la-compa??a-300x172.jpg[/img]

Bithumb, one of the most important exchanges in South Korea, has sold almost 40% of its shares to a blockchain consortium, in what aims to be a strategy to regain its strength within the Asian market.

The negotiation had a value of 400 Billion Won, which is equivalent to about 350 Million Dollars. That value represents approximately 38% of the company’s shares.

According to Coindesk Korea, Bithumb signed the deal on October 11th and the company that obtained the rights was BK Global Consortium, a blockchain investment firm that emerges as the blockchain arm of BK Global, a plastic surgery medical group located in Singapore.

Bithumb Has a New Successful Shareholder

Bithumb Sells $350 Million Stake in Its Cryptocurrency Exchange to a Blockchain Consortium
Kim Byung Gun

BTC Holdings Company, Bithumb’s majority shareholder, agreed to sell 50%+1 of its total shares to the BK Global Consortium. As a result, it has gone from owning 76% of Bithumb’s equity to just under 38%.

With this new partnership, the share distribution will have a little more stability, and its acquisition value will go up to a trillion Won, which would be close to 880 million dollars.

Also, the exchange now has Kim Byung Gun – chairman of BK Group – as the largest shareholder of this company. Mr.Kim Byung Gun is a renowned plastic surgeon with investments in the Korean health care system: He runs his own hospital, is also related to Hugel, a biotechnology company and founded an ICO consulting company in Singapore just two months ago.

Good Times Ahead

The well-known surgeon did not want to reveal further details about the negotiation. After being contacted by the Coindesk team to learn more about the consortium or the characteristics of the acquisition, Kim Byeong-Gun simply said: “I will tell you later.”

Bithumb has had a difficult year after the security problems that its platform has presented. A hack suffered some months ago for a value close to 15 million dollars added to a series of wash trading accusations caused the popular exchange to be delisted from CoinMarketCap’s global index.Previously Bithumb was one of the top 10 exchanges across the world. Despite its delisting, it is very likely that the vision of these new players is crucial to regaining its former glory.

The post Bithumb Sells $350 Million Stake in Its Cryptocurrency Exchange to a Blockchain Consortium appeared first on Ethereum World News.

14.10.2018 / 01:25 19
Why Investors are Highly Optimistic in Acquisition of Korea’s Largest Crypto Exchange Why Investors are Highly Optimistic in
On October 12, CCN reported that BK Global Consortium, the parent company of Singapore-based BK Medical Group, has acquired a 50 percent stake in
South Korea’s Largest Crypto Exchange Sold to Singapore-Based Consortium South Korea’s Largest Crypto Exchange
The largest cryptocurrency exchange in South Korea by trading volume, Bithumb, has reportedly been sold to a Singapore-based consortium for
$350 Million: Singapore Consortium Gains Majority Stake in Korea’s Biggest Bitcoin Exchange $350 Million: Singapore Consortium
South Korea’s largest cryptocurrency exchange by trading volume, Bithumb, has seen a  Singapore-based blockchain consortium become its majority owner
South Korean Exchange Bithumb Sells To Singapore Investor For $353 Million South Korean Exchange Bithumb Sells To
Bithumb, South Koreas largest cryptocurrency exchange by volume, has sold to a Singapore entity with the aim of releasing new services and
Bithumb to Issue Own Coin – ‘BITHUMB Coin’ Bithumb to Issue Own Coin – ‘BITHUMB
Binance has its own coin, KuCoin has its own coin, — and soon, Bithumb, the South Korean exchange, will be joining the club. BITHUMB Coin Bithumb,
Korean Exchange Bithumb Has Reserves Worth $6 Billion in 12 Cryptocurrencies Korean Exchange Bithumb Has Reserves
One of South Korea’s largest cryptocurrency exchanges, Bithumb, has published its first audit report, detailing its financial performance as well as
Comments (0)
Add a comment
Comment on