Vidente, the owner of popular South Korean crypto exchange Bithumb, said it is in talks to sell its stake to FTX, according to a report on Tuesday from CNBC.
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Vidente is reportedly considering both a full acquisition of Bithumb by FTX, or joint management of it, according to the report. But no specific course of action has been finalized.
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FTX declined to comment on the CNBC report when contacted by CoinDesk.
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FTX has been aggressively buying and helping bail out crypto firms over the last few months. In late June, it announced a deal with crypto lender BlockFi to provide BlockFi with a $400 million credit facility and potentially acquire it for as much as $240 million. And in February, FTX acquired Japanese crypto exchange Liquid Group.
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Bithumb is one of South Korea’s largest crypto exchanges, with $734 million in trading volume over the last 24 hours, according to CoinMarketCap.
Read more: FTX’s Bankman-Fried Says It’s Worth Losing Money to Prop Up Crypto Industry
