Bithumb operator attracts $200 million funding

Posted 19 April, 2019

BXA (Blockchain Exchange Alliance), the parent company of the leading Korean exchange, Bithumb, intends to acquire a public company (through the so-called reverse merger), which is already listed on one of the New York Stock Exchange - NASDAQ or the New York Stock Exchange.

 According to the leader Byung Gun Kim of the company, it is assumed that this will be a faster way to the goal than the first public offering (IPO). The operator Bithumb has already turned to the United States for legal assistance on this issue, which was supposed to give the green light to this action.

Also, led by Dr. Byung Gun Kim BXA looked at potential partners in Japan. He would like to create such a cryptocurrency project with his investors so that he would receive an official license from the state.

This week, BXA received funding during the Series A round at $200 million from the Japanese ST Blockchain Fund.

According to Byung Gun Kim, the funds will be used to expand the geography of Bithumb, which is already one of the largest exchanges in South Korea and the addition of new trading pairs to the platform.

The ST Blockchain Foundation is based in Japan, but there are investors from all over the world, including Europe and the USA.

Recall that this step occurred after a situation where Bithumb suffered losses of about $ 13 million at the end of last month, which, according to the management, was an insider actions to deceive the company. Subsequently, the company published the results of an independent public audit, convincing investors that their funds were in a fairly reliable repository.

Previous story

22 April, 2019 11:26

← Buterin shares the surprising fact of his life

On April 19 of this year, Vitalik Buterin revealed the fact of the existence of his life, about which few people knew. Co-founder Ethereum (ETH) tried to become an intern at Ripple Labs in the middle of 2013.

Buterin shares the surprising fact of his life

Next story

19 April, 2019 16:26

Reserve Bank of India: regulatory sandbox closed for crypto business →

The Reserve Bank of India has published the draft framework for regulatory sandbox though with a proviso. In particular, the potential sandbox welcomes blockchain companies but cryptocurrency startups cannot take part in it.

Reserve Bank of India: regulatory sandbox closed for crypto business
Write a comment
Prove you’re not a bot + 14 = 29