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Bithumb’s parent company receives $200 million investment from Japan’s ST Blockchain Fund

Namrata Shukla

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Bithumb's parent company receives $200 million investment
Source: Pixabay

Bithumb’s parent company, Blockchain Exchange Alliance [BXA], received a massive $200 million in funding during its Series A round. This huge sum was offered by Japan’s ST Blockchain Fund, reported Coin Telegraph. Though based in Japan, ST Blockchain Fund interests investors from around the world, including Europe and the United States.

BXA is raising funds to take Bithumb to the international level. Bithumb, already one of the largest exchanges in South Korea, will expand in international markets with new trading pairs.

BXA’s press release read,

“The fund shared our vision of creating a global digital exchange platform that can efficiently transfer value across borders with lower costs, which was the key rationale behind this investment decision.”

The news of massive funding comes in after Bithumb lost around $13 million in March following a hack. According to reports, this was considered to be an inside job, done to deceive the company. However, in the third-party public audit, Bithumb reassured investors that their funds were in a secure storage.



Bithumb was also hacked in 2018, losing around $30 million. However, the figure was later corrected to $17 million. The investment by ST will be a much-needed impetus to Bithumb, an exchange that has been reeling under major losses. It has been reported that the South Korean exchange reported losses over $180 million since the price of Bitcoin dropped, while it also had to lay off half of its staff last month.

The timing of the investment also falls in line with the rising prices of cryptocurrencies, especially since Bitcoin has finally breached the $5K mark





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Bitcoin SV’s Craig Wright withdraws email evidence submitted to court as he could not verify date of email exchange

Priya

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Bitcoin SV's Craig Wright withdraws email evidence submitted to court as he could not verify date of exchange
Source: Unsplash

Craig Wright, the self-proclaimed Satoshi Nakamoto, has been in the limelight for the past few days. Apart from the news surrounding a lawsuit over a defamation case, Wright also made headlines due to the news pertaining to the Dave Kleiman case.

Earlier this week, a Reddit user stated in a post that Wright “purposely” submitted a fake email as evidence to the court for the Kleiman -Wright lawsuit. The lawsuit alleges that Wright had stolen $1 million Bitcoin from Dave Kleiman after his death, and Wright was being sued for billions of dollars.

The Redditor had stated,



“Craig Wright’s fraud continues. Yesterday, he submitted into evidence an email he says was from Dave Kleiman to Uyen Nguyen asking her to be a director of his ‘bitcoin company’ in late 2012. It is provably fake. Craig didn’t realize that the email’s PGP signature includes a signing timestamp along with the ID of the key used as metadata.”

Source: Reddit

Source: Reddit

Apart from this, it was also pointed out that the spelling “Kleiman” was misspelled in the letter, as the from address spelled it “Klieman”. Now, according to a new court document, Wright has withdrawn this evidence by stating that he cannot verify the date of the email exchange.

The court letter said,

“Dr. Craig Wright respectfully notifies the Court that he withdraws Exhibit A to his Motion for Judgement on the Pleadings for Lack of Subject-Matter Jurisdiction […] Wright is not withdrawing the motion and maintains that this Court lacks subject-matter jurisdiction over this action”





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