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South Korea’s biggest securities firm snaps up crypto exchange as stock market soars
South Korea’s biggest securities player has agreed a $92 million deal to take over Korbit, the country’s oldest crypto exchange. The deal will see Mirae Asset, a firm with $418 billion in total assets under management, buy 92% of Korbit’s shares, subject to regulatory approval. The goal of the takeover for Mirae is “securing digital asset-powered future growth engines,” the firm said in a statement, South Korean newspaper Chosun Ilbo reported. Mirae Asset’s share price surged on news of the deal, rising by a total of over 15% over the past five days. Over the past six months, the company’s share prices ... (full story)
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