Bitstamp to Sell $ 350 Million to South Korean Game Firm: Report
Bitstamp to Sell $ 350 Million to South Korean Game Firm: Report
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It is reported that Cryptocurrency exchange Bitstamp will be bought by a South Korean game company.

Business Insider, quoting three conspicuous sources, reports that Bitstamp, the oldest surviving Bitcoin survivor in the world, is now nearing an end to a sale to Nexon, a South Korean gaming company in Japan.

Founded in 2011 and based in Luxembourg, Bitstamp has become the world’s oldest surviving debt, with its doors closing after the last year of China-based BTCC’s ban on crypto-currency trading platforms. The 24-hour trading volume of the platform is over US $ 500 million. This will make it the 10th largest exchange in the world.

Nexon, which debuted its first game in 1995, has developed a Korean and Japanese version of high-end PC and mobile games such as Counter Strike and FIFA Online, worth about $ 13 billion.

Neither Nexon nor Bitstamp disclose the subject publicly, but it used to pay $ 350 million for Bitstamp, Europe’s only licensed crypto currency exchange.

If true, Bitstamp reported that Circle would sell $ 50 million less in a $ 400 million deal earlier this year, as the US paid Poloniex for the exchange of crypto-money exchanges. This is particularly noteworthy because Bitstamp is located in the upper ranks of Poloniex in its daily trading volume and, unlike Poloniex, it also has banking relationships to offer price trade pairs.

However, it will undoubtedly provide the perfect investment for Bitstamp’s investors. In 2013, the company then raised $ 2.4 million in a massive fundraising campaign at the beginning of 2017, while the crypto-currency hedge fund Pantera Capital offered a platform with $ 10 million seed funding.

In particular, this will not be Nexon’s first crypto-currency exchange shopping gain.

As CCN reported, the company acquired a controlling appraisal of $ 150 million in South Korean crypto-currency Korbit in September. Korbit was South Korea’s second largest stock exchange at the time, and the platform continues to publish about 100 million dollar trade volume daily.

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