Plastic Surgeon and Startup Investor Buys $352 Million Stake in Korean Crypto Trade Bithumb

A bunch led through considered one of South Korea’s main plastic surgeons, Dr. Kim Byung Gun, has made a big funding in crypto trade Bithumb’s conserving corporate. Bloomberg reported the scoop Friday, Oct. 12.

The surgeon’s BK International Consortium has closed a deal to obtain “50 % plus one proportion” of BTC Protecting Co. – the most important investor in Bithumb’s operator – for round 400 billion gained ($352 million), Bloomberg studies, bringing up a Bithumb spokesperson. The file states that BK International Consortium was once already the “fifth-largest” shareholder of BTC Protecting.

In step with Bloomberg’s supply, the transaction is to be finalized in February 2019.

Dr. Kim Byung Gun additionally established an Preliminary Coin Providing (ICO) research company in Singapore remaining yr, in line with a Korea Joongang Day-to-day profile revealed in Might. The company reportedly goals to lend a hand particular person traders distinguish between scams and “promising mission fashions,” amid the surgeon’s worry in regards to the occurrence of Ponzi schemes and different fraudulent choices within the area.

The profile outlines how the surgeon, who is alleged to have made his fortune through making an investment in tech and bio startups, “has stuck the blockchain fever.”

Bithumb is lately the sector’s 2d greatest through reported day-to-day traded quantity in line with CoinMarketCap.

Previous this month, Cointelegraph reported that the trade plans to open a world decentralized crypto trade (DEX) with technical enhance from blockchain company One Root Community (RNT).

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