Korean media has reported that Morgan Stanley is in talks with Bident — who owns a 10% of Bithumb Korea.
According to Korean media, U.S.-based multinational investment banking giant Morgan Stanley is rumored to be negotiating the acquisition of a significant share in leading Korean cryptocurrency exchange, Bithumb.The news was reported on March 18 by Aju News, with Bithumb reportedly in discussions with major Bithumb shareholder, Bident — who owns a roughly 10% stake in Bithumb Korea.A March 19 article from leading local search engine Naver states that Morgan Stanley is planning to invest between 300 and 500 billion Korean won ($254 million to $441 million). The report cited an anonymous senior Bithumb representative as stating, “Morgan Stanley participated in the acquisition of Bithumb.”“The reason Morgan Stanley used Bident is because it understood that Bident has the right to negotiate a preferred sale to acq
Is Bitcoin Headed For A Shakeout? Price-Driven Changes Spark Questions About Miner Future
The recent price rally in Bitcoin (BTC) has brought a double-edged sword for miners, boosting network security but…