Morgan Stanley bidding for stake in top South Korean Bitcoin exchange Bithumb

posted 10 months ago
American investment bank Morgan Stanley is reportedly set to acquire a stake in Bithumb, one of South Korea’s largest cryptocurrency exchanges.

The wealth management giant is willing to invest up to $50 billion won ($44.1 million) into the exchange. Bithumb’s valuation is expected to reach $2 billion. In 2020, it generated 20 billion won ($17.7 million) worth of operating profit.
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