Ever since the beginning of 2020, there is one particular cryptocurrency exchange that has managed to stay in the headlines. The name of the cryptocurrency exchange is Bithumb, which is based in South Korea. Although there are several cryptocurrency exchanges in South Korea that are doing better than Bithumb, yet it is in the spotlight since early 2020.
The major reason behind that is the controversial status of the Bithumb exchange since early 2020. Since the beginning of 2020, it is being reported that Bithumb’s owner wants to sell it and is looking for the right buyer.
Since then, several buyers have been reported, interested to get their hands on Bithumb. However, every single time, the deal ends before it turns into a successful one. If not an actual deal, then they just turn out to be rumors about a big name trying to purchase it. Such rumors only get turned down by the actual companies that Bithumb’s sale is linked with. One of the major examples of such a case is the game manufacturing company from South Korea, Nexon.
This time, it is yet another big company from South Korea that is being linked with Bithumb. Now the sources are claiming that the particular company is now interested in acquiring Bithumb.
The sources claim that this time it is “WeMade”, most likely to acquire Bithumb. WeMade is famously known among the people of South Korea for being the creator of a series called “Legend of Mir”.
Now WeMade is being linked with Bithumb, where it is being rumored that the company is interested in acquiring a significant stake in the cryptocurrency exchange.
The entire dilemma of the Bithumb exchange being up for sale started when it was revealed that the largest stakeholder of the exchange was willing to sell its share in the exchange.
This information was also confirmed by Samjong KPMG back in early 2020, which is also a famous brokerage in South Korea.
There are several media as well as newspaper sources in South Korea that are now covering the recent report of WeMade looking to buy Bithumb. The sources are reporting that at present, WeMade is going through the options of how it is going to proceed with the purchase.
Many are speculating that WeMade may proceed with purchasing the stake from the highest stakeholder Lee Jung-Hoon. It is reported that Hoon, who is the owner of the exchange has around 60% to 70% stake in the cryptocurrency exchange.
Therefore, if WeMade manages to acquire Hoon’s stake, it would eventually be able to acquire the majority of the stake and ownership at the cryptocurrency exchange.
It was previously reported that Hoon had shown interest in selling his stake in the crypto exchange for around $650 million. On the other hand, the parties showing interest in purchasing the stakes seem to have offered around $450 million to $475 million.