page contents Plastic Surgeon and Startup Investor Buys $352 Million Stake in Korean Crypto Exchange Bithumb – The News Headline
Home / Cryptocurrency / Plastic Surgeon and Startup Investor Buys $352 Million Stake in Korean Crypto Exchange Bithumb

Plastic Surgeon and Startup Investor Buys $352 Million Stake in Korean Crypto Exchange Bithumb

A gaggle led via certainly one of South Korea’s main plastic surgeons, Dr. Kim Byung Gun, has made a significant funding in crypto trade Bithumb’s conserving corporate. Bloomberg reported the inside track Friday, Oct. 12.

The surgeon’s BK World Consortium has closed a deal to obtain “50 p.c plus one percentage” of BTC Protecting Co. – the most important investor in Bithumb’s operator – for round 400 billion gained ($352 million), Bloomberg reviews, mentioning a Bithumb spokesperson. The record states that BK World Consortium was once already the “fifth-largest” shareholder of BTC Protecting.

In line with Bloomberg’s supply, the transaction is to be finalized in February 2019.

Dr. Kim Byung Gun additionally established an Preliminary Coin Providing (ICO) research company in Singapore final yr, in step with a Korea Joongang Day by day profile revealed in Would possibly. The company reportedly objectives to lend a hand particular person buyers distinguish between scams and “promising mission fashions,” amid the surgeon’s fear in regards to the incidence of Ponzi schemes and different fraudulent choices within the house.

The profile outlines how the surgeon, who is alleged to have made his fortune via making an investment in tech and bio startups, “has stuck the blockchain fever.”

Bithumb is lately the arena’s 2d biggest via reported day by day traded quantity in step with CoinMarketCap.

Previous this month, Cointelegraph reported that the trade plans to open a world decentralized crypto trade (DEX) with technical make stronger from blockchain company One Root Community (RNT).

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