Plastic Surgeon and Startup Investor Buys $352 Million Stake in Korean Crypto Exchange Bithumb

A team led by one particular of South Korea’s main plastic surgeons, Dr. Kim Byung Gun, has produced a key financial investment in crypto trade Bithumb’s holding enterprise. Bloomberg reported the news Friday, Oct. 12.

The surgeon’s BK Global Consortium has shut a deal to receive “50 percent furthermore one particular share” of BTC Holding Co. – the major investor in Bithumb’s operator – for close to 400 billion received ($352 million), Bloomberg stories, citing a Bithumb spokesperson. The report states that BK Global Consortium was presently the “fifth-largest” shareholder of BTC Holding.

According to Bloomberg’s resource, the transaction is to be finalized in February 2019.

Dr. Kim Byung Gun also set up an Preliminary Coin Supplying (ICO) investigation company in Singapore very last yr, according to a Korea Joongang Everyday profile released in May. The company reportedly aims to assist individual investors distinguish amongst scams and “promising venture styles,” amid the surgeon’s worry about the prevalence of Ponzi strategies and other fraudulent choices in the house.

The profile outlines how the surgeon, who is reported to have produced his fortune by investing in tech and bio startups, “has caught the blockchain fever.”

Bithumb is at the moment the world’s second major by reported everyday traded quantity according to CoinMarketCap.

Before this month, Cointelegraph reported that the trade designs to open up a international decentralized crypto trade (DEX) with specialized assistance from blockchain company Just one Root Network (RNT).

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