Bithumb Going for $353M to Plastic Surgeon-Led, Singapore-Based Consortium

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

This article appeared first on Cryptovest

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