Cryptocurrency exchange Bitstamp to be sold to South Korean investors for $400 mln

Cryptocurrency exchange Bitstamp is reportedly about to be sold to South Korean investors for a sum of around $400 mln dollars, according New York Times finance and tech journalist Nathaniel Popper’s tweet from yesterday, March 22.

The Luxembourg-registered exchange, founded in 2011, is currently ranked number 11 in terms of 24 hour exchange volume on CoinMarketCap, trading a total of around $182.4 mln over a 24 hour period to press time.

Some Twitter commentators have seen the potential Bitstamp sale as a bad thing, citing a lack of familiarity with South Korean law in regards to crypto regulations as an impetus to stop using the exchange:

Along with all the other news about virtual currency exchanges, I’ve heard from numerous sources that one of the oldest exchanges, Bitstamp, is in the final stages of being sold to South Korean investors for ~$400m. Neither the exchange nor the buyers are commenting.

@Bitstamp@SupportBitstamp – is this true that you are selling you company to Korea? If so I would need to take my business else where unfortunately!