FTX has started negotiations to acquire South Korea-based cryptocurrency exchange Bithumb.
According to an anonymous source, the two companies have been in talks for several months.
A Bithumb spokesperson said, “We are not confirming anything at this stage.” A spokesperson for FTX declined to comment.
Sam Bankman-Fried’s company aims to keep the industry afloat by acquiring crypto platforms amid the liquidity crisis. In addition, FTX and its subsidiary, FTX US, are in talks with several companies to raise capital.
According to data from CoinGecko, Bithumb processes an average of $569 million worth of transactions per day. The exchange was among the cryptocurrency exchanges whose offices were raided after Terra’s collapse.
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