Blockchain Exchange Alliance controls 38.7% of Bithumb, one of South Korea's largest cryptocurrency exchanges. The Singapore-based holding company raised $100.295 million in an equity crowdfunding round on Bnktothefuture, exceeding its $100 million goal, with 39 investors receiving a combined 6.66% stake.
Bithumb Holding Company Looks to Raise US$100M in Equity Round
Blockchain Exchange Alliance controls 38.7% of Bithumb, one of South Korea's largest cryptocurrency exchanges. The Singapore-based holding company raised $100.295 million in an equity crowdfunding rou
Key Points
- Blockchain Exchange Alliance controls 38.7% of Bithumb, one of South Korea's largest cryptocurrency exchanges.
- The Singapore-based holding company raised $100.295 million in an equity crowdfunding rou
Advertisement
728×90
Bithumb reported 4.3 million active users and $1.4 billion in daily trading volume as of mid-December. In 2017, the exchange generated $312 million in revenue and $248 million in operating profits, for an 80% operating margin.
BXA plans to deploy the capital across three areas: cementing Bithumb's standing in crypto trading, expanding into digital payments, and building a global network of localized exchanges. The company intends to open operations in the United States, United Kingdom, Australia, Thailand, Singapore, Mexico, Peru, and Hong Kong. BXA will also establish what it calls the world's first CryptoBank, offering crypto loans, payments, credit cards, custody services, and over-the-counter trading.
BXA began in 2018 after BK Global Consortium acquired Bithumb in October for $354 million. The exchange suffered a breach in early 2018 when attackers stole $32 million.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
Advertisement
728×90
Related Stories
Markets
Bitcoin Hits $109,000 All-Time High on Trump Inauguration Day
Bitcoin reached $109,356 on January 20, 2025, marking a new all-time high coinciding with Trump's inauguration.
·MiningPool Staff
Cryptocurrency
Amaury Sechet Commits To The Reduced ABC Community
Bitcoin Cash ABC's price rocketed 62% in the past day, climbing from $12.27 to $19.97 as the project released a new client focused on stability fixes. The rebound offered holders a reprieve after the
·James Gray
Cryptocurrency
Bitcoin price soars to $18,480 as bulls look to moon BTC
Bitcoin reached $18,483 in the past 24 hours, extending a significant rally over the previous week. BTC/USD climbed more than 15 percent in the last seven days following a breakthrough past the $16,00
·Aubrey Swanson
Cryptocurrency
Crypto-Ponzi Scheme Operator Arrested By The FBI
Law enforcement caught a California man attempting one of the more dramatic getaways in recent financial crime history. Matthew Piercey, accused of orchestrating a massive investment scam, tried to es
·James Gray
Cryptocurrency
Grayscale now has $10 billion in crypto assets under management
Grayscale Investments has crossed an unprecedented $10.4 billion in digital asset holdings, marking the first time the institutional crypto fund manager has reached this significant threshold. The mil
·James Gray
Cryptocurrency
YFI price jumps 20% to hit $25,000, days after trading around $7,500
DeFi token yearn.finance (YFI) jumped more than 20% as Bitcoin surged past $18,000, sparking enthusiasm across the crypto market. The token climbed from just above $21,000 to an intraday peak of $24,8
·Aubrey Swanson
Stay informed
Verifiable crypto journalism, delivered to your inbox.
Weekday mornings. No hype. No financial advice. Just what happened and why it matters.
No spam. Unsubscribe anytime. Read our privacy policy.