FTX in Talks to Buy South Korean Crypto Exchange Bithumb: Report

Vidente, the owner of popular South Korean crypto exchange Bithumb, said it is in talks to sell its stake to FTX, according to a report on Tuesday from CNBC.

• Vidente is reportedly considering either a full acquisition of Bithumb by FTX, or joint management of it, according to the report. It hasn't made a final decision yet.
• FTX, which is also a crypto exchange, declined to comment on the CNBC report.
• FTX has been buying and helping bail out crypto firms over the last few months. In late June, it agreed to provide crypto lender BlockFi a $400 million credit facility and potentially acquire BlockFi for as much as $240 million. And in February, FTX acquired Japanese crypto exchange Liquid Group.
• Bithumb is one of South Korea’s largest crypto exchanges, with $734 million in trading volume over the last 24 hours, according to CoinMarketCap.

Read more: FTX's Bankman-Fried Says It’s Worth Losing Money to Prop Up Crypto Industry