Connect with us

Bithumb

Bithumb Meta Rebrands to Bithumb Partners for Investors

Published

on



Bithumb, one of South Korea’s leading cryptocurrency exchanges, has transformed its now-defunct subsidiary, Bithumb Meta, into Bithumb Partners. 

As reported by BizWatch today, the rebranding is interpreted as a major strategic change. Apart from the name, the focus has changed to investment operations, forming a new entity within Bithumb.

In the fourth quarter of 2024, Bithumb rebranded and injected another 1 billion KRW or 6,80,099 USD, bringing the total capital for the subsidiary under 100% ownership of Bithumb to around 2 million dollars. In 2023, previous investors in Bithumb Meta-such as LG CNS, CJ OliveNetworks, and SK Square-have now officially departed, given that the subsidiary did not live up to its expectations from NFT and metaverse projects.

Bithumb Partners will now officially be led by an external recruit named Im Tae-seong. Accordingly, management at Bithumb will occupy all key positions, just like the internal directory and audits. The shake-up also ended with the departure and dissolution of the founding management team of Bithumb Meta.

Bithumb Partners shall, therefore, be a short-term investment vehicle into themed deals of stocks and bonds employing Bithumb internal funds. This is in contrast to Bithumb Investment, which mostly engages in external investments. Moreover, Bithumb has historically invested in convertible bond investments in KOSDAQ-listed companies Iwin, Barunson, and T&R Biofab. For the time being, Bithumb Partners is looking to continue overseeing existing short-term stationary investments in addition to potentially extending into a full-fledged strategic or financial investor.

There was a common sentiment among industry experts regarding Bithumb Partners, and the intended ‘spinoff’ Bithumb has been reported in the first half of 2023. There was a vision to set up an investment company used for holding operations to manage investments and real estate through leasing. Nevertheless, Bithumb Partners is the brainchild of the previous vision but takes on a more streamlined process than the initial plan. 

“We restructured Bithumb Meta into Bithumb Partners to streamline operations and focus on managing assets like stocks and bonds, as well as short-term financial investments. Creating a new entity from scratch and liquidating the old one would have been time-intensive.”

Bithumb spokesperson.

Bithumb’s IPO positioning

This development coincides with an announcement made by Bithumb that it intends to undertake an IPO in 2025. Forming an investment-centric subsidiary will likely fall under a wider optimization effort of its corporate structure and financial works toward the planned IPO.

Some of them said your company reorganized Bithumb Meta into Bithumb Partners to streamline operations more easily and focus on asset management related to stocks and bonds and short-term financial investments. Creating a new asset from scratch and liquidating the old one would take way too long.

This follows in parallel with Bithumb’s proposal and announcement to go for an initial public offering in the United States by 2025. Forming an investment-focused subsidiary forms such a great effort to put corporate structure and operations into order before the IPO itself. 



Source link

Bithumb

Gaming token XTER rallies 15% on Bithumb listing, poised for 30% recovery if momentum builds

Published

on


Xterio surged 15% today, breaking out of the tight consolidation range after 40% dip a week ago, fueled by renewed momentum from the listing on South Korea’s Bithumb exchange.

Xterio (XTER) is up 15% today, currently trading at $0.26, buoyed by its recent listing on Bithumb. The surge marks a decisive breakout from the recent consolidation zone around $0.22–$0.23, which had formed following a steep 40%+ crash from $0.35 – $0.38 level, triggered by heavy two-day selling pressure on May 19–20.

The price just tested the $0.30 level — a key horizontal support-turned-resistance — at its intraday peak and is now hovering around EMA 20 around $0.27, which is acting as dynamic resistance. A decisive break above $0.27, followed by a move past $0.30, could open the path for a potential rally back towards the $0.35 level and beyond.

The RSI is currently at 44 and tracking upwards, indicating strengthening bullish momentum. On the MACD, bearish momentum has eased, as shown by the declining red histogram bars. While bullish momentum is yet to materialize, with the MACD line still below the signal line, a bullish MACD crossover appears to be imminent.

Overall, the setup looks promising, but the move is in its early stage. Bulls need to push past $0.30 for continuation toward $0.35 and higher. Until that level is clearly breached, the current surge could still be a relief rally within a broader corrective phase.

Gaming token XTER rallies 15% on Bithumb listing, poised for 30% recovery if momentum builds - 1
Source: TradingView

Xterio is a Switzerland-based web3 gaming platform that blends free-to-play mechanics with blockchain-powered ownership, allowing players to earn NFTs and other digital assets through gameplay. Backed by Binance Labs, which invested $15 million into the project in July 2023, Xterio’s founding team includes veterans from Ubisoft, FunPlus, and NetEase. The the project had previously raised $40 million in August 2022 from investors like FunPlus, XPLA, and FTX Ventures.

In January 2025, Xterio became MEXC’s first-ever Launchpool project, kicking off with staking rewards and airdrops before listing on the exchange on January 8. Since then, the token has expanded its presence across other major exchanges, including Bybit, Bitget, KuCoin, BingX, HTX, and now Bithumb.



Source link

Continue Reading

Across Protocol

Ethereum Altcoin Explodes 68% After Korea’s Second-Biggest Crypto Exchange Announces Trading Support

Published

on


An Ethereum (ETH)-based altcoin is skyrocketing after gaining support from South Korea’s second-largest crypto exchange.

In a new announcement, crypto trading platform Bithumb says that it is now supporting the interoperable cross-chain bridge Across Protocol (ACX), triggering rallies for the digital asset.

News of the event caused ACX to surge, as it went from a March 21st low of $0.275 to a peak of $0.462 just a few hours later, a rise of nearly 68%. It has since retraced and is trading for $0.319 at time of writing, a 10% gain during the last 24 hours.

In its whitepaper, Across Protocol says it is the only cross-chain platform powered by intents.

Explains Across Protocol,

“Intents introduce a third party, a relayer (alternatively named filler, or solver), that does the job of delivering assets / executing user transactions quickly. An intent is a type of order where a user specifies an outcome instead of an execution path.

In practice, intents manifest as a combination of a cross-chain limit order and an action to execute, all encoded within a standardized order structure. Relayers compete on cost and speed to fill these orders, which can include on-chain actions as well as assets. Relayers deliver very quickly, without any messages.

From the user’s perspective, interoperability is solved. Their desired outcome is achieved.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney



Source link

Continue Reading

Bithumb

South Korea’s Bithumb to launch $TRUMP trading for 53k won

Published

on


Bithumb announced that it will be launching $TRUMP meme coin on its platform with a base price of 53,350 won three days after its official launch.

Bithumb, South Korea’s second largest crypto exchange, will launch the official Trump meme coin, $TRUMP (TRUMP), following a surge of demand in the crypto market. The crypto exchange is offering $TRUMP at a base price of 53,350 won (equal to around $37) for its Korean traders who are interested in investing in the U.S. President’s meme coin.

The Solana-based meme coin will be available for trading on Bithumb starting from Jan. 21, 2025 at 19:00 KST. Though, traders can begin withdrawing or depositing the token one hour after the announcement was posted, at approximately 18:36 KST. So far, there are already a total of 20 deposit confirmations lodged into Bithumb for $TRUMP.

According to data from crypto.news, Trump’s meme coin has gone down by more than 30% in the past 24 hours of trading. The meme coin is currently valued at $39.63. Despite its strong start, reaching more than $10 billion in market cap mere hours after its launch, the token’s market cap has slipped to $7.8 billion. However, it still ranks in number 28 on the crypto board by market cap.

South Korea's Bithumb to launch $TRUMP trading for 53k won - 1
Price chart for the official Trump meme coin, January 21, 2025 | Source: crypto.news

The official Trump meme coin has accumulated a trading volume of more than $19 billion in the past 24 hours of trading, with its price fluctuating between $31.58 and $58.55. The meme coin also has a fully diluted valuation of nearly $40 billion.

So far, the Trump meme coin has been listed on several major crypto exchanges, including Coinbase, Binance, and Robinhood. Bithumb becomes the first South Korean crypto exchange to launch the official Trump meme coin.

According to the Bithumb notice, buying and selling orders for the token will be restricted for 5 minutes at the beginning of trading, at prices less than -10% of the standard price and more than +100% of the standard price. Automatic orders will only be possible after the first transaction.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.



Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon