coindesk.com
Vidente, the owner of popular South Korean crypto exchange Bithumb, said it is in talks to sell its stake to FTX, according to a report on Tuesday from CNBC.
Vidente is reportedly considering both a full acquisition of Bithumb by FTX, or joint management of it, according to the report. But no specific course of action has been finalized.
FTX declined to comment on the CNBC report when contacted by CoinDesk.
FTX has been aggressively buying and helping bail out crypto firms over the last few months. In late June, it announced a deal with crypto lender BlockFi to provide BlockFi with a $400 million credit facility and potentially acquire it for as much as $240 million. And in February, FTX acquired Japanese crypto exchange Liquid Group.
Bithumb is one of South Korea’s largest crypto exchanges, with $734 million in trading volume over the last 24 hours, according to CoinMarketCap.
Read more: FTX's Bankman-Fried Says It’s Worth Losing Money to Prop Up Crypto Industry