South Korean Investors To Buy Crypto Exchange Bitstamp For $400 Mln

[btcmg]

By Molly Jane Zuckerman @ https://cointelegraph.com/news/south-korean-investors-to-buy-crypto-exchange-bitstamp-for-400-mln-sources-report


Cryptocurrency exchange Bitstamp is reportedly about to be sold to South Korean investors for a sum of around $400 mln dollars, according New York Times finance and tech journalist Nathaniel Popper’s tweet from yesterday, March 22. Sources familiar with the matter have also confirmed the information in the tweet to Cointelegraph today, March 23.


Nathaniel Popper
@nathanielpopper
Along with all the other news about virtual currency exchanges, I've heard from numerous sources that one of the oldest exchanges, Bitstamp, is in the final stages of being sold to South Korean investors for ~$400m. Neither the exchange nor the buyers are commenting.

12:17 AM - Mar 23, 2018

The Luxembourg-registered exchange, founded in 2011, is currently ranked number 11 in terms of 24 hour exchange volume on CoinMarketCap, trading a total of around $182.4 mln over a 24 hour period to press time.

Some Twitter commentators have seen the potential Bitstamp sale as a bad thing, citing a lack of familiarity with South Korean law in regards to crypto regulations as an impetus to stop using the exchange.

23 Mar

Nathaniel Popper
@nathanielpopper
Along with all the other news about virtual currency exchanges, I've heard from numerous sources that one of the oldest exchanges, Bitstamp, is in the final stages of being sold to South Korean investors for ~$400m. Neither the exchange nor the buyers are commenting.

 
Nikita Vdovin
@NikitaVdovin
@Bitstamp @SupportBitstamp - is this true that you are selling you company to Korea? If so I would need to take my business else where unfortunately!

1:35 AM - Mar 23, 2018

On the other hand, Twitter users have pointed out that a change in the ownership of Bitstamp does not necessarily mean changes for the company:

23 Mar

Nikita Vdovin
@NikitaVdovin
Simply prefer to deal with laws I am familiar with. No idea about how Korea operates and to what standards.

 
BitJohny
@bit_johny
Ownership doesn’t change it is an European company licensed in Luxembourg... like... nothing changes just the owner or the stock unless they decide afterwards to ditch their European offices, license, banking relationships, and do a 180 at which point... why buy it?
11:55 AM - Mar 23, 2018

South Korea’s cryptocurrency regulatory decisions have made the news several times this year, from false rumors of a blanket ban on cryptocurrencies around the new year leading to media FUD, to a raid on three Seoul-based crypto exchanges in February after customers’ funds were found to have been moved into the accounts of the exchange managers.


From https://cointelegraph.com/news/south-korean-investors-to-buy-crypto-exchange-bitstamp-for-400-mln-sources-report

[vit05]

@naval recently said that the speed of hiring great professionals from Silicon Valey by companies working with Blockchain was reaching record levels. I think we are already in a second phase where, in addition to hiring the best professionals, this sector is attracting institutional and conservative investors to invest in companies. The third stage will be the big funds pouring money into the market.

[Basmic]

I have an account on this exchange but I do not use it because I do not like this exchange. I think it's good to be bought. In this form, as it now exists it will not be able to be competitive. Maybe new investors will make it better. Now a lot of exchanges but very few of them are really good. Perhaps in the future we will face tough competition in this market and the quantity will turn into quality.

[btcmg]

I have an account on this exchange but I do not use it because I do not like this exchange. I think it's good to be bought. In this form, as it now exists it will not be able to be competitive. Maybe new investors will make it better. Now a lot of exchanges but very few of them are really good. Perhaps in the future we will face tough competition in this market and the quantity will turn into quality.

which exchanges you like？

[Duzter]

Once again South Korea making its foot prints strong into the cryptocurrency network with such a huge investment upon the buying of bitstamp really a good news for all the cryptocurrency users. The price started to decline this year with the issue starting from south Korea. Now, the same serves to make a positive impact on the growth of the network.