South Korean gaming giant Nexon is preparing to acquire crypto exchange Bithumb for about $460 million: Report
South Korean gaming giant Nexon is reportedly preparing to acquire Bithumb, the country’s biggest cryptocurrency exchange, for around 500 billion won (~$460 million).
Local outlet Maekyung reported the news on Thursday, saying that Nexon is known to have signed a memorandum of understanding with Bithumb at the beginning of this month to acquire its 65% stake.
If the deal goes through, Nexon will become the owner of three crypto exchanges. The company has acquired Bitstamp and Korbit in the past.
The Bitstamp deal occurred in October 2018, and the buyer was NXMH — NXC’s investment firm (NXC is the parent company of Nexon). The Korbit deal, on the other hand, took place in September 2017 for about $80 million.
This is a developing story and will be updated…
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Author: Yogita Khatri
