The CEO of FTX, Sam Bankman-Fried has gone on an acquisition spree amid the current market downturn. The latest addition to the list might be South Korea’s Bithumb.
A person with knowledge of the matter said that the crypto billionaire is in advanced talks to buy Bithumb, citing that the companies have been in discussions for several months.
“We cannot confirm anything at this stage,” said a Bithumb spokesperson. The platform, according to data provider CoinGecko, currently processes around $569 million worth of trades on its platform a day on average.
Bankman-Fried, has already saved BlockFi and Voyager Digital, while still holding out a ‘few billions’ to back a struggling crypto firm. The FTX co-founder said in an NPR interview that it is the responsibility of his firms to “stem contagion” in a crypto crash market.
In related news, both FTX and FTX.US are seeking separate fundings.