A Broadcast Equipment Maker with a Stake in Bithumb Korea
The stock price of Vidente has soared as the news broke out that FTX, a U.S. crypto trading platform, is in acquisition talks with Bithumb, the No. 1 digital asset trading platform in Korea.
Vidente, which is listed on Kosdaq, closed at 11,900 won on July 25, up 29.77 percent from the previous trading day.
Vidente is a globally recognized manufacturer of high-performance broadcasting equipment. The company owns a 10.22 percent stake in Bithumb Korea and a 34.22 percent stake in Bithumb Holdings.
According to Bloomberg, FTX, a cryptocurrency exchange co-founded by American billionaire Sam Bankman-Fried, is reportedly moving to take over Bithumb.
Founded in 2014, Bithumb is currently handling an average of 740 billion won in cryptocurrency transactions per day. It was one of the seven coin exchanges that were investigated by Korean prosecutors in connection with a Luna crash.
FTX drew much attention this year by providing emergency funds to some coin lending companies that fell into a liquidity crisis due to a plunge in prices of virtual currencies. It sought to take over some of these companies.