Huge South Korean Gaming Firm Preparing to purchase Bithumb Crypto Platform for $460 million

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Nexon, the giant South Korean gaming company, is allegedly preparing to purchase a 65 percent stake in a transaction worth around 500 billion won ($460 million) in the embattled digital currency platform Bithumb. 

Nexon is to purchase all the stock held by Bithumb president Lee Jung Hoon, plus some others adding up to 65 percent of the outstanding shares of the company, as per regional media sources

In order to promote the deal, the Tokyo Stock Exchange-listed video game company has since signed a memorandum of understanding (MoU) with the buyers. The MoU was released at the start of this month, the articles reported.

Nexon also operates two other digital currency platform: Korbit, the 3rd biggest platform in Korea, and Bitstamp, the European platform that it purchased three years ago for around $80 million and $400 million.  

Bithumb là gì? Hướng dẫn đăng kí tài khoản trên Bithumb

Bithumb, the biggest bitcoin trading platform in Korea, has been shaken by theft concerns surrounding top business workers. Officials in the Asian nation are reportedly prosecuting the $25 million financial scam site. 

The president, Lee Jung Hoon, is suspected of earning millions of dollars by offering without disclosing Bithumb’s tokens to consumers. The platform was placed up for auction last year as a part of a theft lawsuit.

Nexon, which was formed in 1994, is a significant leader in the gaming sector. contain some of the most famous game titles.  Dungeon & Fighter, Kart Rider, and Nexus: The Kingdom of the Winds are some of the most famous games. 

In Tokyo trading on Thursday, Nexon’s shares decreased by 0.16 percent to 3,180 Japanese yen ($30.8). The firm has a market capital base of 2.82 trillion yen ($27.3 billion).

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