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FTX Could Buy South Korean Crypto Exchange Bithumb

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There are all kinds of events taking place in the crypto space these days. Check out the latest ones involving FTX and an important crypto exchange.

FTX could buy South Korean crypto exchange Bithumb

CoinDesk just revealed that Vidente, the owner of popular South Korean crypto exchange Bithumb, said it is in talks to sell its stake to FTX. This is according to a report on Tuesday from CNBC.

It’s been revealed that Vidente is reportedly considering both a full acquisition of Bithumb by FTX, or joint management of it, according to the report. But no specific course of action has been finalized.

FTX declined to comment on the CNBC report when contacted by CoinDesk.

FTX has been aggressively buying and helping bail out crypto firms over the last few months.

Check out more data that the online publication mentioned above notes: “In late June, it announced a deal with crypto lender BlockFi to provide BlockFi with a $400 million credit facility and potentially acquire it for as much as $240 million.”

They also noted that in February, FTX acquired the Japanese crypto exchange Liquid Group.

FTX in the news

A few days ago, we were revealing that the chief executive officer of crypto derivatives exchange platform FTX is highlighting three major use cases for digital assets.

In a lengthy thread, FTX CEO Sam Bankman-Fried says that cryptos are more than just speculative assets.

He said that digital assets could be used to make instant payments, provide critical structure for markets and interconnect social media platforms.

Bankman-Fried first demonstrates how easy and cheap it is to make instant payments using crypto.

“I went to send $50 from Bob to Alice. I clicked ‘send’ at 8:19:33 am. By 8:19:45, when I tabbed over to Alice, the $50 had already landed. The fee I paid was $0.0002: around 2% of a penny.”

Check out more details about this in our previous article. 

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