- Singapore’s BK Global buys 50 pct plus one share from BTC Holdings.
- Values the exchange at $800 million.
South Korea’s biggest cryptocurrency exchange announced on Friday that its biggest shareholder BTC Holdings has sold majority of its stake in the exchange to Singapore’s BK Global, which is headed by Kim Byung-gun, a plastic surgeon and blockchain platform investor.
The deal is priced at $354 million, wherein BK Global will buy 50 percent plus one share of BTC Holding’s stake in Bithumb, making it the largest shareholder in the exchange. The deal values Bithumb at $800 million.
The year has been quite mixed for Bithumb as its platform was hacked earlier in the year when its customers lost $30 million worth of cryptocurrencies, although the exchange still managed to report profits for the first half of the year.
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