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November 27, 2022
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WeMade can buy Bithumba –

The South Korean gaming giant can buy Bithumba, one of the country’s largest cryptocurrency exchanges. According to reports ChosunWeMade, the company behind the Legend of Mir franchise, is the last to express an interest in purchasing shares in a cryptocurrency trading platform.

WeMade will buy a cryptocurrency exchange?

Chosun reported that WeMade “Emerged as a black horse”In the race to buy Bithumba. The media quoted an anonymous whistleblower from the investment banking sector saying that “Foreign financial firms that have tried to take over [giełdę]they withdrew from the negotiations ”.

The portal says its sources have confirmed that WeMade is analyzing a number of options that may include, inter alia, purchase of shares of main shareholder Lee Jung-hoon. Lee is said to want $ 628 million for the shares, but stakeholders seem willing to pay only about $ 448 million for the shares.

WeMade A company that enters the cryptocurrency market

While WeMade doesn’t want to comment, something’s up. Its subsidiary WeMade Tree is reportedly thinking of launching a cryptocurrency trading platform. The company has also released a couple of game titles that use blockchain technology and that use digital currencies.

It is known that the WeMade Tree trading platform will act as a marketplace for players to buy and sell in-game items, including Non-Convertible Tokens (NFT).

Chosun said a stumbling block to the deal may be that Lee wants to make a cash sale, while WeMade does not have enough liquid assets for this to happen. An anonymous industry informant said WeMade might try to work around the problem by trying to organize a merchant syndicate.

It is worth adding that the competition as to who will buy Bithumba has been going on for a long time. Earlier, Deutsche Bank, Visa, Binance and Naver were referred to in this context. In September last year, accounting firm Samjong KPMG, Bithumba’s M&A adviser, 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.

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