Tuesday, October 26, 2021
Home Crypto News Market South Korean Gaming Giant Nexon Is Preparing To Buy Bithumb Exchange

South Korean Gaming Giant Nexon Is Preparing To Buy Bithumb Exchange

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The gaming company Nexon, the daughter of the South Korean investment firm NXC, has signed an agreement with the management of the Bithumb cryptocurrency exchange to buy the platform for $460 million.

According to local newspaper Maekyung, earlier this month Nexon began the procedure of buying 65% of the shares of the Bithumb exchange. According to the publication, the firm has agreed to sell shares with the largest shareholder of Bithumb Holdings – Vidente.

In case of successful completion of the transaction, NXC will become the owner of the Bithumb crypto exchange. Earlier, NXC through another subsidiary NXMN acquired the Bitstamp exchange, and in September 2017, the Korbit platform was purchased for $80 million.

Back in September 2020, it was reported that the owners of Bithumb are looking for a buyer for the site. As the crypto platform had problems with law enforcement agencies because the board chairman of the company Lee Jung-hoon was accused of fraudulent sale of Bithumb tokens called BXA worth $25 million.

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Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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