The founder of crypto exchange firm FTX, Sam Bankman-Fried, plans to acquire Bithumb a South Korean crypto exchange while increasing his acquisitions.
As reported by CNBC on 26 July, Vidente who owns Bithumb confirmed the information about the acquisition of the exchange, and that talks about the possible sale have already started to come up.
In particular, FTX is considering various options, including a full takeover of Bithumb or joint management of the exchange, as they move towards the acquisition of the crypto exchange.
This deal further aims to increase the foothold of Bithumb in the Asia region, where the exchange has already signed various agreements previously. As of now, Bithumb is amongst the popular exchanges in the Asia region.
Bithumb’s acquisition by FTX comes at a time when South Korea is planning and tightening its cryptocurrency regulations. Interestingly, the latest attempt by FTX to enter the sector has been opposed by prominent financial figures in the country.
“Currently, there is no reason for FTX to enter the Korean crypto market as the financial authorities tighten regulations and prosecutors continue to expand investigations into crypto exchanges,” said Lee Tai-ki, a researcher at the Korea Institute of Finance.
The recent actions and the country tightening its grip on the crypto space were recently highlighted by the government’s crackdown on major South Korean crypto exchanges as a follow-up of a wider investigation into the collapse of the Terra (LUNA) ecosystem.
It is important to note that with the rapid crypto market crash, many businesses have been affected that are struggling to maintain and continue operations. As a result, Bankman-Fried expressed his interest in protecting many organizations from stormwater withdrawals.
Following this FTX has signed some high-profile acquisition deals, that include an option to buy crypto lending company BlockFi for up to $240 million. While this amount is significantly less than the company’s previous valuation which was $4.8 billion.
FTX also made a deal to acquire Liquid, a Japanese crypto exchange.
While considering the overall scenario, the current market downturn has bankrupted businesses, with Celsius and Voyager Digital Platforms among the prominent firms. Furthermore, Bankman-Fried also provided a loan to Voyager Digital by his firm Alameda Research.
Read also: US Treasury’s Office investigation against Kraken exchange
FTX Exec accelerating his Bithumb acquisition plan
https://bitcoinik.com/ftx-exec-accelerating-his-bithumb-acquisition-plan/feed/
https://bitcoinik.com/ftx-exec-accelerating-his-bithumb-acquisition-plan/feed/
ETH-ERC20 Mining and Financial Management
✅ Minimum Investment: 10 USDT.
✅ Minimum withdrawal: 1 USDT.
✅ Withdrawal time: 24h.
✅ Withdrawal day: Everyday.
✅ 5% cashback on first investment.
✅ daily profit 6-11.5% on your investment (Profit will be added every hour in your wallet).
✅ Get up to 10% referral Bonus.
The output of liquid mining is not constant and may be affected by the liquidity of the blockchain. The expected daily production income:
✅ VIP1: DEPOSIT 50~10000 USDT GET 2% EVERYDAY
✅ VIP2: DEPOSIT 10001~50000 USDT GET 2.5% EVERYDAY
✅ VIP3: DEPOSIT 50001~100000 USDT GET 3% EVERYDAY
✅ VIP4: DEPOSIT 100001~200000 USDT GET 4% EVERYDAY
✅ VIP5: DEPOSIT 200001~500000 USDT GET 5% EVERYDAY
✅ VIP6: DEPOSIT 500001~1000000 USDT GET 7% EVERYDAY
✅ VIP7: DEPOSIT OVER 1000001 USDT GET 8% EVERYDAY
📌 You must open wallet (Metamask, Tronlink e.t.c. ) and connect it, for earning income
▬▬▬▬▬▬▬▬▬▬▬▬▬▬
𝙍𝙀𝙂𝙄𝙎𝙏𝙍𝘼𝙏𝙄𝙊𝙉 𝙇𝙄𝙉𝙆👇🏽
https://eth-trc20.org/h5/#/?p=16327
▬▬▬▬▬▬▬▬▬▬▬▬▬▬
👇👇👇👇👇👇👇👇👇👇
Support Telegram Group: https://t.me/+TjCkS2KwKfQwZjM0
—————————————————————————————————————————————-
Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.
