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Bithumb followed more than 38 per cent of its ownership to one of the Blockchain Consortium in Singapore

2018-10-12 08:25 am | Resource: News Section | No Views : 54

Bithumb followed more than 38 per cent of its ownership to one of the Blockchain Consortium in Singapore Bithumb, now the largest trading exchange in South Korea, has sold more than 38 per cent of its total ownership to a Blockchain conglomerate in Singapore for 400 billion won, or $ 350 million.
Bithumb noted that the deal was signed on October 11 with BK Global Consortium, an investment company in Blockchain, formed by BK Global, a medical plastic surgery group in Singapore.
BTC Holdings, which currently owns 76 per cent of Bithumb, has agreed to sell 50 per cent + 1 shares, from 76 per cent to BK, a move that would make Bithumb the largest observer at the time of the transaction.
Bithumb was estimated at more than 1 trillion won, about $ 880 million, and later, Kim Byeong-joon, plastic surgeon and chairman of BK Group, Bithumb's largest shareholder, said the report.
According to the report, Kim is also an early innovator, founded an initial consulting firm (ICO) and ICO in Singapore last August.
The news comes just a few months after many Bithumb shareholders unveiled their financial figures for digital currency exchange, indicating that they made a net profit of about $ 35 million in the first half of this year, although almost June for the company after $ 40 million.
After Q3 disrupted new account opening due to a bank contract problem, which led to a significant drop in volume, Bithumb has seen an activity of $ 1.1 billion over the last 24 hours.

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