Breaking News: Korean Media Reports Morgan Stanley's Interest in Acquiring Korean Exchange Bithumb

Morgan Stanley has recently garnered high exposure. In addition to offering clients to invest in Bitcoin funds, South Korean media outlet Naver revealed that it is seeking to acquire shares of Bithumb through Vidente, a major shareholder of Bithumb and a publicly listed company on the South Korean stock market. However, until this information is confirmed, it should be treated as a rumor.

Morgan Stanley has been in the spotlight recently, not only for offering clients the opportunity to invest in a Bitcoin fund, but also for reportedly seeking to acquire shares of Bithumb through Vidente, a major shareholder of the South Korean stock exchange company. However, until this news is confirmed, it should be taken with a grain of salt.

Earlier, there were rumors that South Korean gaming company Nexon was planning to acquire a 65% stake in the local cryptocurrency exchange Bithumb for about 500 billion Korean Won (approximately 460 million USD), a deal that was speculated to fall through.

It is reported that Morgan Stanley is planning to acquire shares of Bithumb for 300-500 billion Korean Won. The report suggests that Bithumb is valued at 2 trillion Korean Won.

Prominent cryptocurrency analyst and journalist Joseph Young has also been following this news, although some netizens believe it to be unlikely.

Wow.

Morgan Stanley is reportedly bidding for Bithumb, South Korea's top crypto and bitcoin exchange, for $2 billion valuation.

Slowly, then surely.

The explosiveness of institutional interest in this space right now is unprecedented.

— Joseph Young (@iamjosephyoung) March 19, 2021