BitStamp – one of the world’s largest exchange – is selling itself off

BitStamp, one of the largest exchanges in the world, is selling itself off to South Korean investors for $400 Million. This news was tweeted by New York Times financial and tech journalist Nathaniel Popper on Twitter. He does not mention his source though.

Founded in Luxembourg in 2011, Bitstamp is a bitcoin marketplace that allows people from all around the world to safely buy and sell bitcoins. The platform is currently ranked number 11 in terms of 24-hour exchange volume on CoinMarketCap. Bitstamp is currently managing $173.4 million dollars’ volume being BTC/USD, BTC/EUR and ETH/USD the most traded pairs with an 80% of the total trading volume of the exchange.

Bitstamp, once a really popular exchange has faced tough competition from other bigger competitors like Binance, Coinbase, and Bitmex.

While many impatiently are demanding comments from Bitstamp’s officials, others are already determined to leave Bitstamp because of the lack of familiarity with the South Korean law on crypto regulations.

We will keep on updating on the latest development of Bitstamp.

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