FTX Eyes Bithumb to Enter Asia’s Crypto Market

FTX crypto exchange might potentially acquire Bithumb fully or agree for the exchange’s joint management.

Written By:
Richa Bhagat

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The parent company of South Korea’s Bithumb, Vidente, says discussions on the cryptocurrency exchange’s potential stake sale to FTX are ongoing. The FTX exchange is eyeing a larger market in Asia, especially the South Korean crypto market with a potential Bithumb acquisition.

A ‘specific course of action’ is yet to be decided, says Vidente. FTX and its founder Sam Bankman-Fried are actively pursuing acquisitions in a downward sloping crypto market.

Reports suggest FTX might as well consider a full acquisition or settle for a joint exchange management of Bithumb.

Also Read: FTX Proposes Joint Liquidity Offer to Voyager Customers

The Crypto Times earlier reported the FTX exchange might acquire Bithumb. Continuing its acquisition spree, the FTX exchange earlier signed a deal to potentially buy BlockFi for $240 million.

Reports also indicate that FTX signed an agreement in February and acquired the Japan-based Liquid Group.

Bithumb is one of South Korea’s largest crypto exchanges. It recorded a peak transaction processing volume of over $500 million of trades in the last 24 hours, per CoinGecko.



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She is a full-time journalist who fits in as an Editor at The Crypto Times. She is only now beginning to spread her wings into the Crypto World. To feed her soul, you can find her smashing a DUNK or frolicking in the water. She usually caresses her fingers on Colors and Canvas when she isn't breaking them on the Keyboard. She is profoundly influenced by nature and the ethno-linguistically diverse Indian Subcontinent.