- South Korean investors to buy Bitstamp exchange for $400 million.
- Is this another false story or media FUD?
South Korea: There are indications that some South Korean investors are on the move to purchase the Luxembourg-registered Bitstamp exchange. According to New York Times finance and a tweet from tech journalist Nathaniel Popper on March 21, Bitstamp cryptocurrency exchange might soon be sold out to South Korean investors for a sum of about $400 million dollars. Other sources that are familiar with the matter have also confirmed this information in the tweet to Cointelegraph yesterday, March 23.
Along with all the other news about virtual currency exchanges, I've heard from numerous sources that one of the oldest exchanges, Bitstamp, is in the final stages of being sold to South Korean investors for ~$400m. Neither the exchange nor the buyers are commenting.
— Nathaniel Popper (@nathanielpopper) March 22, 2018
The Bitstamp exchange, founded in 2011, is currently ranked number 11 in terms of 24 hours’ exchange volume on CoinMarketCap, trading a total of about $182.4 million over a period of 24 hours to press time.
Tweets from some users showed that the potential sale of Bitstamp exchange is a bad thing, citing a lack of familiarity with South Korean law in regards to cryptocurrency regulations as a driving force to stop using the exchange:
— Nikita Vdovin (@NikitaVdovin) March 22, 2018
On the other hand, other tweets pointed out that a change of the Bitstamp ownership does not necessarily suggest a change in the exchange:
Ownership doesn’t change it is an European company licensed in Luxembourg… like… nothing changes just the owner or the stock unless they decide afterwards to ditch their European offices, license, banking relationships, and do a 180 at which point… why buy it?
— BitJohny (@bit_johny) March 23, 2018
The decision of the South Korean cryptocurrency regulatory body has made the news a number of times this year, ranging from false rumors of a blanket ban on digital currencies towards the new year, which led to media FUD, to an attack on three Seoul-based cryptocurrency exchanges last February after customers’ funds were found to have been transferred into the accounts of the exchange managers.
What do you think about the South Korean Investors’ plan to purchase Bitstamp exchange? Tell us in the comment box.
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