Bitstamp to be purchased by South Korean investors for $400 milllion

According to a Mar. 22 tweet by New York Times finance and tech journalist Nathaniel Popper, Crypto-exchange Bitstamp is about to be sold to South Korean investors for a sum of 400 million dollars. Sources close to the Bitstamp team have also validated the information on Twitter on Wednesday, Mar. 23.

Bitstamp, a Luxembourg-registered exchange, established in 2011 by Damijan Merlak and Nejc Kodrič, is currently ranked number 11 when it comes to 24-hour exchange volume according to the data made available by CoinMarketCap, trading a total of over 182.4 million dollars over a 24-hour period to press time.

Some Twitter users have viewed the probable Bitstamp sale as a quite unfortunate thing, indicating a lack of familiarity with South Korean cryptocurrency regulation laws as a reason to stop using the exchange:

However, some Twitter users have suggested that a change in the ownership of Bitstamp exchange does not inevitably mean changes for the crypto-exchange: South Korea’s cryptocurrency regulatory rulings have made the headlines many times this year, from fake reports of a blanket ban on digital assets at the beginning of the year, leading to a raid on three Seoul-based cryptocurrency exchanges in February after clients’ funds were discovered to have been transferred into the exchange managers’ accounts.