Bitstamp Review 2019 – Is it Still Legit? What You Need to Know
The head of Bitstamp confirmed that the Belgian investment company NXMH has bought back 80% of the shares of the cryptocurrency exchange. The transaction was carried out in full for cash.
Nades Codrik did not disclose the amount and details of the acquisition, but said that in 2016 the company was estimated at $ 60 million. It is known that he retained a 10% stake and will continue to serve as CEO. Pantera Capital, which invested $ 10 million in Bitstamp four years ago, also sold some of its shares to the Belgians..
According to Nades Codrik, they were not planning a sale and were not looking for buyers themselves. However, out of the four interested buyers, NXMH was chosen because it would allow the exchange to continue operating unchanged..
NXMH itself is a subsidiary of the South Korean company NXC, which also owns the Korbit crypto exchange. The new owners claim that the sites will continue to operate independently.
The head of Bitstamp does not deny that the current downturn in the market has led to a 60-70% reduction in trading volumes, but even now it is profitable. At the moment, the daily turnover of the platform is $ 100 million, and the total number of registered users exceeds 3 million.
Data from the Chicago Mercantile Exchange (CME) also shows a growing interest in bitcoin futures among investors. In the third quarter, the daily volume of traded contracts increased by 43% and reached 5 thousand transactions.
text: Ivan Malichenko, photo: bitfeed, finance-3