Bybit in talks to acquire Korea’s fourth-largest crypto exchange: Report

Bybit is reportedly exploring the acquisition of Korbit, South Korea's fourth-largest cryptocurrency exchange, according to a report by Maeil Business Newspaper. This potential move is seen as an effort by the international exchange to bolster its position in the competitive Asian crypto market. The reported talks followed the Financial Intelligence Unit's approval of Binance's executive replacement at GOPAX, which potentially opens the door for foreign exchanges to acquire local platforms. However, Korbit has officially denied the acquisition rumors, stating they are baseless. Korbit is majority-owned by NXC, the holding company of gaming giant Nexon, and SK Planet, both entities that have recently been reducing their crypto investments.

(Source：Crypto Briefing)