FTX in Talks to Acquire Bithumb: Report
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July 22, 2022

Cryptocurrency exchange FTX is reportedly seeking to acquire Bithumb for an undisclosed sum, Bloomberg has learned, citing sources close to the matter. The discussions have been in active stage for at least several months now, but the terms remain unclear.

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A spokesperson for Bithumb told the media that the exchange "cannot confirm anything at this stage." The news come shortly after reports said FTX and its American subsidiary, FTX US, are seeking to raise up to $800 million in total after the exchanges lent millions to troubled crypto firms.

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Earlier this summer, FTX Founder, Sam Bankman-Fried, said that the exchange plans to spend "billions" of dollars to acquire stakes in other companies in order to expand its product line.

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