{"id":31897,"date":"2020-11-17T15:11:18","date_gmt":"2020-11-17T13:11:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31897"},"modified":"2025-08-28T05:58:44","modified_gmt":"2025-08-28T02:58:44","slug":"media-huobi-plans-to-acquire-bithumb-and-bitflyer","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-huobi-plans-to-acquire-bithumb-and-bitflyer\/","title":{"rendered":"Media: Huobi plans to acquire Bithumb and bitFlyer"},"content":{"rendered":"<p>The cryptocurrency exchange Huobi is examining the possibility of purchasing two major trading platforms: South Korea&#8217;s Bithumb and Japan&#8217;s bitFlyer. This was reported by journalist Colin Wu.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Exclusive: Wu learned that Huobi, China\u2019s largest exchange, is trying to acquire Japan\u2019s largest exchange Bitflyer and Korea\u2019s largest exchange Bithumb. The price of Bitflyer is US$500 million. However, as Huobi is investigated by the Chinese government, both will be suspended. <a href=\"https:\/\/t.co\/rORH7x1EMn\">pic.twitter.com\/rORH7x1EMn<\/a><\/p>\n<p>\u2014 Wu Blockchain\uff08Chinese Crypto Reporter\uff09 (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1328555658262630401?ref_src=twsrc%5Etfw\">November 17, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to him, bitFlyer, with 2.5 million users, is valued at $500 million. The value of Bithumb ranges from $430 million to $600 million.<\/p>\n<p>Such figures <a href=\"https:\/\/forklog.com\/en\/news\/media-bithumb-bitcoin-exchange-put-up-for-sale-again\">called<\/a> by the media in September, when information about the company\u2019s sale surfaced after <a href=\"https:\/\/forklog.com\/en\/news\/police-seize-part-of-bithumb-holdings-shares-during-third-raid-in-a-month\">raids<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/police-seize-part-of-bithumb-holdings-shares-during-third-raid-in-a-month\">interrogations<\/a> of the exchange\u2019s CEO Li Jong-hoon in the case of fraud involving the native token BXA.<\/p>\n<blockquote>\n<p>\u00abHuobi recognises the risks associated with dependence on the Chinese market, so it is expanding overseas very quickly. However, Japan and South Korea are not the best targets for investment. Their users are very closed, and the government regulates [industry] very strictly,\u00bb the journalist wrote.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">Huobi also recognises the risk of relying too much on the Chinese market, so it is very urgent to expand overseas markets. But Japan and South Korea are not a good investment target. Their users are very closed, and the government has super strict supervision.<\/p>\n<p>\u2014 Wu Blockchain\uff08Chinese Crypto Reporter\uff09 (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1328556621836894209?ref_src=twsrc%5Etfw\">November 17, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Wu also, citing an anonymous blogger, said that Binance wanted to buy Bithumb for $400 million. However, the seller expressed interest in Huobi\u2019s offer of $500 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Interestingly, a Chinese anonymous blogger disclosed on November 9 that Huobi was competing with Binance for Bithumb, the largest exchange in South Korea. Binance offered 400 million U.S. dollars, but Huobi snatched it with 500 million U.S. dollars. <a href=\"https:\/\/t.co\/9XwFgmUa4J\">pic.twitter.com\/9XwFgmUa4J<\/a><\/p>\n<p>\u2014 Wu Blockchain\uff08Chinese Crypto Reporter\uff09 (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1328657098603855874?ref_src=twsrc%5Etfw\">November 17, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Wu noted that talks on the deals were hindered by Huobi\u2019s problems with Chinese authorities. Earlier, a journalist <a href=\"https:\/\/forklog.com\/en\/news\/huobis-native-token-slumps-on-large-usdt-transfers-between-exchanges\">said<\/a> about the possible arrest of Robin Zhu, but exchange representatives denied this information.<\/p>\n<p>As regulators&#8217; troubles mounted, withdrawals from Huobi to Binance on November 13 <a href=\"https:\/\/forklog.com\/en\/news\/huobi-users-withdrew-300m-in-bitcoin-amid-regulatory-headwinds\">reached<\/a> an all-time high \u2014 more than 16,500 BTC worth about $300 million.<\/p>\n<p>Subscribe to ForkLog\u2019s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Huobi is examining the possibility of purchasing two major trading platforms: South Korea&#8217;s Bithumb and Japan&#8217;s bitFlyer. This was reported by journalist Colin Wu.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[819,973,1166,230],"class_list":["post-31897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitflyer","tag-bithumb","tag-centralized-exchanges-cex","tag-huobi"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/31897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=31897"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/31897\/revisions"}],"predecessor-version":[{"id":31898,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/31897\/revisions\/31898"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=31897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=31897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=31897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}