On April 15th, the Japanese ST-fund invested $ 200 million in the Bithumb, South Korean cryptocurrency exchange. The investment was made in the first investment round.
Investing in Bithumb
In a press release about the completion of the first round of financing, it is said that the money will be spent on expanding the geographical markets of Bithumb and adding new projects to the platform (exchange pairs).
Investments are also necessary to maintain the work of the exchanger. As you know, Bithumb suffered losses in the amount of about $ 13 million at the end of last month, which, according to the leaders, was an "insider operation to deceive the company".
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In turn, the ST Fund is an organization for financing blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details projects, which was organized in Japan, but over time expanded its sphere of influence in the United States and Europe.
Bithumb representatives commented on such generous funding as follows: "The fact is that the fund fully shares our vision of creating a global cryptocurrency platform that will allow you to create cross-border transactions at low costs (...) This was the key factor for making this investment decision fully"
The Japanese ST-fund supported the Bithumb cryptocurrency exchange with an investment of $ 200 million. Recall that on April 12, the director of the Binance Exchange, Changpeng Zhao, criticized the founder of the Bitcoin SV coin and promised to remove the cryptocurrency from the listing.
Editor: Yulia Krasnaya