Breaking: Multi-Billion Dollar Gaming Conglomerate Preparing to Acquire 65% Stake in Bithumb

Bithumb, the largest South Korean crypto exchange is reportedly in talks with Nexon, a multi-billion dollar gaming conglomerate as per several local media reports. The report says Nexon plans to take 65% of Bithumb

Absolutely massive.

Korean media reporting Nexon, a multi-billion dollar gaming conglomerate, is preparing to acquire Bithumb, South Korea’s biggest crypto exchange.

Valuation? below ~$460M.

This is big for Bitcoin and the local crypto industry if the deal goes through. (1/3)

— Joseph Young (@iamjosephyoung) January 7, 2021

The media reports suggest that Nexon founder Kim Seong-Ju will directly overlook the proceedings and the decision to invest in the largest crypto exchange in the country might have come because of his work with Vidente, a major stakeholder in Bithumb.

This story is being updated…

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