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Sam Bankman-Fried’s FTX May Buy South Korean Crypto Exchange Bithumb: Report

The emergent white-knight firm of the 2022 crypto winter appears to be exploring more acquisition options.

This crypto winter, rumors of FTX rescuing or acquiring struggling crypto companies have proliferated — and now South Korean crypto exchange Bithumb is said to be on FTX CEO Sam Bankman-Fried’s shopping list.

According to a report from Bloomberg, FTX is in late-stage talks to potentially acquire Bithumb, which has over 8 million registered users. The conversations have reportedly been in progress for “several months.”

When asked to confirm or deny the report, an FTX representative told Decrypt “no comment.” Bithumb has not yet responded to Decrypt’s request for comment.

Despite seeing over $1 trillion in total volume traded on its exchange, Bithumb has struggled on and off over the years. Back in 2020, Bithumb faced a number of lawsuits and Huobi was reportedly looking to acquire it, but never did.

Last month, FTX acquired the Canadian crypto exchange Bitvo. In a statement, Bankman-Fried said the purchase was made “to expand FTX’s global reach.”

“Our expansion into Canada is another step in proactively working with cryptocurrency regulators in different geographies across the globe,” Bankman-Fried added.

Read more here: https://decrypt.co/105790/sam-bankman-frieds-ftx-may-buy-south-korean-crypto-exchange-bithumb-report

About RoboFi

RoboFi (https://robofi.io/home/) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.

About VICS

VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.

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