Bithumb Holder Says Discussing Stake Sale To Bankman-Fried’s FTX

Vidente, which holds a stake in the South Korean crypto exchange Bithumb, says it has discussed a possible sale of its holdings in the business to FTX, confirming an earlier Bloomberg report.

Bloomberg News reported that FTX, the crypto trading platform co-founded by billionaire Sam Bankman-Fried, is in advanced talks to buy the South Korean crypto exchange. Bithumb, founded in 2014, currently processes around $569 million worth of trades on its platform a day on average, according to data provider CoinGecko.