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The parent company of South Korea’s Bithumb, Vidente, says discussions on the cryptocurrency exchange’s potential stake sale to FTX are ongoing. The FTX exchange is eyeing a larger market in Asia, especially the South Korean crypto market with a potential Bithumb acquisition.
A ‘specific course of action’ is yet to be decided, says Vidente. FTX and its founder Sam Bankman-Fried are actively pursuing acquisitions in a downward sloping crypto market.
Reports suggest FTX might as well consider a full acquisition or settle for a joint exchange management of Bithumb.
Also Read: FTX Proposes Joint Liquidity Offer to Voyager Customers
The Crypto Times earlier reported the FTX exchange might acquire Bithumb. Continuing its acquisition spree, the FTX exchange earlier signed a deal to potentially buy BlockFi for $240 million.
Reports also indicate that FTX signed an agreement in February and acquired the Japan-based Liquid Group.
Bithumb is one of South Korea’s largest crypto exchanges. It recorded a peak transaction processing volume of over $500 million of trades in the last 24 hours, per CoinGecko.
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