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

News

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.

Jacob Lucas

Jacob Lucas

Jacob has been active in the cryptocurrency markets since 2010, specializing in Bitcoin. He received education as Certified public accountant, specializing in taxes and cost management. Looking for alternative sources of income due to some personal struggles Jacob discovered Bitcoin 2010, showing some commitment and first to learn and get all the basics. Jacob made his fists investment in bitcoin in 2011 and has been successful in the field. Writing in the field is part of Jacob’s commitment to share knowledge with others.

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