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August 9, 2022
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Deutsche Bank, Visa and Binance are talking about the acquisition of the Bithumb exchange –

As you can see, rumors about the sale of Bithumba are growing. As reported media, Deutsche Bank, Visa, Binance and Naver are reportedly in talks to buy shares (or even complete acquisitions) of this largest cryptocurrency exchange in South Korea.

Deutsche Bank, Visa and Binance want to take over the Bithumb exchange?

The atmosphere around the sale of Bithumba is growing thick. According to recent media rumors, Morgan Stanley has made its bid to buy the stock exchange and allegedly has already tried to enter into a suitable deal with Vidente, a video equipment company that owns 10% of Bithumba.

We would like to remind you that in September last year, the accounting firm Samjong KPMG, Bithumba’s adviser on mergers and acquisitions, confirmed to the portal Cryptonews.comthat the stock market is actually for sale. The price can be impressive. It is suggested that the amounts are between $ 430 and $ 602 million. According to some experts, the market value of the platform is much higher, however.

In addition, now we learn that Deutsche Bank, Visa, Binance and Naver are reportedly also joining the game.

Navera representatives reportedly met with Vidente’s decision makers to discuss a possible sale and purchase agreement. As a minority shareholder, the latter has the right to be the preferred bidder, which strengthens its role in the negotiation and sale process.

Bithumb is a tasty morsel for giants

It is worth adding that this year the competition on the cryptocurrency exchange market is becoming more and more intense. In addition, the volumes on this type of platforms in South Korea. reach new highs. As the market develops, the valuation of Bithumba also grows. Apparently, the value of the stock exchange may rise to USD 2.7 billion. According to Fn News, the platform’s informal market valuation is currently “only” around $ 1.8 billion.

At the start of the year, it was said that Nexon, the South Korean gaming conglomerate, was actually ready to take over Bithumba. The transaction price was even quoted – it was supposed to be around $ 460 million. The case was quickly denied.

In parallel, an investigation into the director of Bithumba in connection with allegations of fraud is ongoing. This, in turn, further raised doubts about the prospects of the stock exchange to obtain legally required registration from the South Korean authorities.

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