$200 million funding has been secured by Bithumb, from Japan’s ST Blockchain Fund. The parent company of Bithumb, the Blockchain Exchange Alliance (BXA) explained, “The fund shared our vision of creating a global digital exchange platform that can efficiently transfer value across borders with lower costs, which was the key rationale behind this investment decision.”
A cryptocurrency exchange, Bithumb has recently confirmed to had a net loss of 205B won in the year of 2018. The decline faced by Bithumb is the result after a high-profile cryptocurrency they had suffered in the middle year of 2018. The company also reportedly laid off 30 of its employee, it’s believed to be due to the declining revenues and trading volume.
Bithumb cryptocurrency exchange was hacked again, a statement has been published by ChangeNOW exchange that they would like to help to recover the stolen fund from Bithumb. In its announcement, “All the malicious addresses received from Bithumb have been blacklisted..we have managed to stop a solid number of EOS and XRP exchanges that the hackers tried to make through us.”
An announcement regarding the temporary paused of the cryptocurrency withdrawal and deposits have been made by a cryptocurrency exchange. This propelled speculation that the exchange has been hacked. The exchange responded by tweeting “We have secured all the cryptocurrency from the detection time with a cold wallet and checked them by blocking deposit and withdrawal service.”
An Israeli blockchain project ORBS will be listed on Bithumb soon. The co-founder of ORBS, Uriel Peled commented, “South Korea is one of those countries with the highest ratio of cryptocurrency ecosystem participants and the largest cryptocurrency trading volume, which means it is one of the most important markets in the global blockchain industry.”
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.”