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| The logo of Bithumb, the nation's second-largest crypto exchange, is seen in front of its customer service center in Seoul. Yonhap |
By Lee Min-hyung
Shares of Vidente, the largest shareholder of Bithumb, soared by around 30 percent Monday amid FTX's reported plan to take over the Korean crypto exchange operator.
Vidente is the largest shareholder of Bithumb Holdings with a 34.22 percent stake. The company's stock closed with an eye-catching gain of 29.77 percent, or 2,730 won on the tech-heavy Kosdaq.
The company can exercise its right to appoint Bithumb's board of directors. If FTX, a U.S.-based crypto exchange, possibly ends a race to acquire Korea's second-largest crypto exchange operator, Vidente is also forecast to receive massive financial benefits.
Last week, an overseas news report said that FTX is "in advanced talks" to take over Bithumb.
A spokesman at Bithumb declined to disclose more details.
"We cannot confirm anything over the report or whether both sides are in talks for any deal," the official from the crypto exchange said.
Other crypto-related stocks also ended with gains on the same day.
Shares of Woori Technology Investment jumped by more than 17 percent shortly after the opening of the local stock market. The stock closed at 6,270 won, a gain of 5.73 percent or 340 won, from the previous trading day. The company holds a 7.4 percent stake in Dunamu, the operator of Korea's leading crypto exchange Upbit, as of the end of March this year.
Hanwha Investment & Securities, which also has a stake in Dunamu, extended a rally of more than 6 percent in its stock price at one time during the same day, before ending with a slight gain of 0.3 percent.
Their stock price growth was also in part driven by growing expectations for a possible crypto rebound after major cryptocurrencies experienced huge price falls during the second quarter amid fears of global monetary tightening.
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