Cryptocurrency exchange Bitstamp to be sold to South Korean investors for $400 million?

Photo: finance.si

One of the largest cryptocurrency exchange – Bitstamp is set to be sold to South Korean investors for $400 million dollars, the New York Times finance and tech journalist Nathaniel Popper tweeted not disclosing his sources. So far, there is no official comment from Bitstamp nor the investors, regarding the allegations. However, other sources familiar with the cryptocurrency market are also confirming the reports sparking a great debate for the future of Bitstamp.

Nathaniel Popper, New York Times finance and tech journalist tweet

Founded in Luxembourg in 2011, Bitstamp is a bitcoin marketplace that allows people from all around the world to safely buy and sell bitcoins. The platform is currently ranked number 11 in terms of 24-hour exchange volume on CoinMarketCap. Bitstamp is currently managing $173.4 million dollars’ volume being BTC/USD, BTC/EUR and ETH/USD the most traded pairs with an 80% of the total trading volume of the exchange.

While many impatiently are demanding comments from Bitstamp’s officials, others are already determined to leave Bitstamp because of the lack of familiarity with the South Korean law on crypto regulations.

There are also those who are calming the atmosphere in the cryptocurrency world, noting that change in the ownership of Bitstamp does not necessarily mean changes for the company.

Will be Bitstamp sold to South Korean investors? The doubt is still to be cleared. Given the position of South Korea in the world, whatever news coming from there, undoubtedly affects the crypto market in one way or another. That said, how the potential acquisition of Bitstamp by South Korean investors will affect the crypto market, is yet to be seen.

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