South Korea’s Bithumb parent company secures $200 million from Japan’s ST Blockchain Fund

  • Blockchain Exchange Alliance (BXA) to use the $200 million to expands Bithumb’s international business.
  • The funding comes after the exchanges reported a loss of $13 million in March.

According to a report published by Cointelegraph on April 15, South Korea’s leading cryptocurrency exchange Bithumb parent company has announced that it has secured a $200 million fund from ST Blockchain Fund based in Japan. The report says that the funding makes series A funding round and that the funds will be channeled towards expanding Bithumb international sector of the business.

Blockchain Exchange Alliance (BXA) wants to ensure that Bithumb maintains its position as the leading exchange in South Korea while at the same time increase the trading pairs. ST Blockchain has investors spread across the world. A section of the press release says:

“The fund shared our vision of creating a global digital exchange platform that can efficiently transfer value across borders with lower costs, which was the key rationale behind this investment decision,”

The funding comes after the exchanges reported a loss of $13 million in March. Executives at Bithumb said that the loss was likely instigated by an insider operation. No customers’ funds were lost in the event and all the money lost belong to the exchange. A third party audit report assured investors that their funds were safe.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Cash price analysis: BCH/USD inching closer to flag pattern breakout

Bitcoin Cash is intentional with this current bullish momentum. The price has been able to sustain above the short-term ascending channel despite testing it twice. The brief deep under $220 support saw Bitcoin Cash make a comeback above $225. 

More Bitcoin Cash News

Ethereum market update: ETH/USD locked in a range after the recent sell-off

ETH has been moving in a tight range after a strong sell-off from the recent high of $197.00. The second-largest con with the current market value of $19.8 billion has recovered from October 12 low of $177.22 to trade at $183.50 at the time of writing, however, the upside momentum is weak. 

More Ethereum News

TRON price analysis: TRX/USD may retest the recent high

At the time of writing, TRX/USD is changing hands at $0.0166. The coin has gained over 4.5% in seven 24 days, and the upside momentum is still strong. Currently, TRON takes 11th place in the global cryptocurrency market rating with a market value of $1.1 billion and an average daily trading value of $638 million.

More Tron News

The cryptocurrency market  at the crossroads amid growing indecision

The cryptocurrency market has been range-bound since the weekend as traders and investors cannot decide what to do next. Bitcoin spiked above SMA200 (Simple Moving Average) daily on October 11, but failed to hold the ground. 

More Cryptocurrencies News


Bitcoin Weekly Forecast: BTC bulls trapped below SMA200 daily

Bitcoin bulls have had a short glimpse of victory only to suffer a bitter disappointment this week.

Read the weekly forecast