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A group led by one of South Korea's leading plastic surgeons has made a $352 million investment in domestic crypto exchange Bithumbâs holding company.
A group led by one of South Korea's leading plastic surgeons, Dr. Kim Byung Gun, has made a major investment in crypto exchange Bithumbâs holding company. Bloomberg reported the news Friday, Oct. 12.
The surgeonâs BK Global Consortium has closed a deal to acquire â50 percent plus one shareâ of BTC Holding Co. â the largest investor in Bithumbâs operator â for around 400 billion won ($352 million), Bloomberg reports, citing a Bithumb spokesperson. The report states that BK Global Consortium was already the âfifth-largestâ shareholder of BTC Holding.
According to Bloombergâs source, the transaction is to be finalized in February 2019.
Dr. Kim Byung Gun also established an Initial Coin Offering (ICO) analysis firm in Singapore last year, according to a Korea Joongang Daily profile published in May. The firm reportedly aims to help individual investors distinguish between scams and âpromising project models,â amid the surgeonâs concern about the prevalence of Ponzi schemes and other fraudulent offerings in the space.
The profile outlines how the surgeon, who is said to have made his fortune by investing in tech and bio startups, âhas caught the blockchain fever.â
Bithumb is currently the worldâs second largest by reported daily traded volume according to CoinMarketCap.
Earlier this month, Cointelegraph reported that the exchange plans to open a global decentralized crypto exchange (DEX) with technical support from blockchain firm One Root Network (RNT).
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