One of the largest cryptocurrency exchange in the world based in South Korea has announced its plan to layoff approximately 50% of its staff. Bithumb in its announcement, “Apart from that, we are trying to provide internal measures. We will continue to add necessary personnel for various new businesses.”
A blockchain consortium Blockchain Exchange Alliance (BXA) is set to acquire 51% of the stake in cryptocurrency exchange, Bithumb with a plan in establishing a network of cryptocurrency exchange in 12 different countries. Gun Kim then explained, “As we have received interest from other potential investors, we might consider another equity financing round to accelerate our expansion.”
A crypto-exchange headquartered in South Korea, Bithumb have announced that they will offer $110 million worth of equity tokens on BnkToTheFuture. The equity token will be made available for the non-US investors with the aim to consolidate the cryptocurrency exchange industry. Bithumb will also offer 13,333 BXA tokens per share that will come together with the equity token.
One of the largest cryptocurrency exchanges headquartered in South Korea, Bithumb have recently won the court case regarding hacking issues. Bithumb in its argument to court explained, “According to the Electronic Financial Transactions Act, Bithumb is not responsible for compensation because it is not a financial company, an electronic financier, or an electronic financial assistant.”
One of the largest cryptocurrency exchanges based in South Korea, Bithumb have recently announced their plan to reward its new members. The Head of Marketing Department of Bithumb, Andy Choi have explained that “Bithumb will plan various services and events for the convenience of its foreign customers and strengthen its communication with customers even in the future.”
The Bithumb has entered into a deal with SeriesOne for the launch of a securities token exchange in the U.S. The Bithumb Company believes the SeriesOne fintech firm as the suitable partner. The company announced, “Bithumb will ramp up efforts to develop into a global financial firm as the blockchain-based asset tokenization is expected to spread globally down the road.”
The Bithumb crypto exchange has unveiled its decentralized digital asset exchange (DEX). Reportedly, the exchange would not impose any transaction fees for the month. The DEX was launched following the announcement of listing Loom Network. Through DEX, Bithumb is to be made more accessible to the digital currency investors across the globe.
Bithumb, the largest cryptocurrency exchanges by its trading volume in South Korea has confirmed that 38% of the exchange’s total ownership has been sold for $350 million by a blockchain consortium headquartered in Singapore, BK Global Consortium. The chairman of BK Group and a plastic surgeon Kim Byung Gun would be the largest shareholder of Bithumb.
A cryptocurrency exchange based in South Korea has recently revealed their plan to introduce a decentralized cryptocurrency exchange by next year, 2019. The exchange is being developed with the support of One Root Network (RNT). The launch the decentralized cryptocurrency exchange is an effort to compete with the other leading cryptocurrency exchange in the industry globally including Binance.
The Bithumb and Coinone crypto exchange have mandated real-name account verification for the deposit and withdrawal of fiat currency. The fiat services on Bithumb for users without verified real-name accounts would be terminated from 1st October for corporate members and 15th October for individuals. However, the crypto transactions would be normal.