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Will Korean brokerages take a stake in Bithumb? The next chapter of TradFi moving into crypto exchanges
South Korea’s leading brokerage Kiwoom Securities is in talks with the second-largest crypto exchange, Bithumb, about taking an equity stake. The plan is to follow a new-share issuance route, though the amount and percentage are not yet finalized. This wave of TradFi firms pushing into crypto exchanges in Korea is getting hotter by the day—Mirae acquired Korbit, Korea Investment is eyeing Coinone, and if a Kiwoom×Bithumb deal comes together, it would be another milestone 🇰🇷📈
But don’t rush in yet! Bithumb was recently fined $136,000 for secretly sending USDT order book data to overseas exchanges—its governance image needs repair. Also, Korean regulators are currently drafting rules on the maximum ownership stake by major shareholders of crypto exchanges (20%, with special circumstances allowing up to 34%). With Bithumb Holdings holding 73.56% of the equity, the restructuring pressure is significant.
A lesson from history: once rumors like this surface, related stocks often go wild in the short term—Vidente’s previous one-day surge of 30% isn’t out of the question. However, for BTC and ETH, the impact is more indirect; it tends to be more of a medium-to-long-term boost to institutional narratives. It’s steadier to wait for official IR announcements before jumping in 💡
#BITHUMB #KIWOOM #BTC #KRW
South Korea’s leading brokerage Kiwoom Securities is in talks with the second-largest crypto exchange, Bithumb, about taking an equity stake. The plan is to follow a new-share issuance route, though the amount and percentage are not yet finalized. This wave of TradFi firms pushing into crypto exchanges in Korea is getting hotter by the day—Mirae acquired Korbit, Korea Investment is eyeing Coinone, and if a Kiwoom×Bithumb deal comes together, it would be another milestone 🇰🇷📈
But don’t rush in yet! Bithumb was recently fined $136,000 for secretly sending USDT order book data to overseas exchanges—its governance image needs repair. Also, Korean regulators are currently drafting rules on the maximum ownership stake by major shareholders of crypto exchanges (20%, with special circumstances allowing up to 34%). With Bithumb Holdings holding 73.56% of the equity, the restructuring pressure is significant.
A lesson from history: once rumors like this surface, related stocks often go wild in the short term—Vidente’s previous one-day surge of 30% isn’t out of the question. However, for BTC and ETH, the impact is more indirect; it tends to be more of a medium-to-long-term boost to institutional narratives. It’s steadier to wait for official IR announcements before jumping in 💡
#BITHUMB #KIWOOM #BTC #KRW
Korean Big Securities Targets Bithumb! Crypto Exchange Equity Battle Heats Up Again 🔥
South Korea’s third-largest securities firm, Kiwoom Securities, is in negotiations with South Korea’s second-largest crypto exchange, Bithumb, to take an equity stake through a new share issuance. This means that after Samsung Securities and Mirae Asset, another mainstream financial institution is stepping in to grab a slice of the pie.
But don’t get too excited yet—Bithumb’s Q1 revenue this year plunged 57.6%, with a net loss of KRW 86.9 billion. Its CEO is also under investigation over alleged bribery. On top of that, Korean regulators are currently considering a new rule: “a limit of 20% on holdings by major shareholders of exchanges.” With Bithumb’s current ownership structure (the holding company owns 73.56%), it will likely need major changes in the future.
Brokerage firms taking stakes in crypto exchanges has become a trend in South Korea—but whether this deal can actually go through, and whether Bithumb can hold up after it does, is still full of unanswered questions. 🤔
#BITHUMB #Kiwoom #韓國加密 #CryptoExchange
South Korea’s third-largest securities firm, Kiwoom Securities, is in negotiations with South Korea’s second-largest crypto exchange, Bithumb, to take an equity stake through a new share issuance. This means that after Samsung Securities and Mirae Asset, another mainstream financial institution is stepping in to grab a slice of the pie.
But don’t get too excited yet—Bithumb’s Q1 revenue this year plunged 57.6%, with a net loss of KRW 86.9 billion. Its CEO is also under investigation over alleged bribery. On top of that, Korean regulators are currently considering a new rule: “a limit of 20% on holdings by major shareholders of exchanges.” With Bithumb’s current ownership structure (the holding company owns 73.56%), it will likely need major changes in the future.
Brokerage firms taking stakes in crypto exchanges has become a trend in South Korea—but whether this deal can actually go through, and whether Bithumb can hold up after it does, is still full of unanswered questions. 🤔
#BITHUMB #Kiwoom #韓國加密 #CryptoExchange
🚨 BREAKING: Kiwoom Securities is reportedly moving forward with plans to acquire a stake in crypto exchange Bithumb, signaling growing interest from traditional financial firms in the digital asset space.
#BinanceSquareTalks #BinanceSquareFamily #Kiwoom #BithumbNews #CryptoNewss
#BinanceSquareTalks #BinanceSquareFamily #Kiwoom #BithumbNews #CryptoNewss
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