FTX, a global cryptocurrency exchange headquartered in the Bahamas, is in talks to acquire its rival Bithumb, South Korea’s leading cryptocurrency exchange, according to people familiar with the matter.
The deal is already in an advanced stage, said the people, who asked to remain anonymous because the discussions are private. Its financial terms are yet to be disclosed.
Amid a series of recent deals, FTX is now talking to Bithumb about a potential acquisition. According to the report, the discussions have been ongoing for several months.
Bithumb has been looking for a buyer since 2018. In October 2018, BK Global Consortium, which is led by renowned cosmetic surgeon Dr. Kim Byung Gun, was on track to acquire Bithumb for $354 million. But the deal was canceled in 2019 because BK chairman Kim Byung-Gun could not pay the whole amount.
In September 2020, Bithumb appointed accounting giant Samjong KPMG to be in charge of its sale, at a price tag of at least $430 million and up to $604...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...