Wemade Becomes Second Largest Shareholder of Bithumb's Major Shareholder Vidente

[Asia Economy Reporter Kang Nahum] Wemade has become the second largest shareholder of Bident, the largest shareholder of the cryptocurrency exchange ‘Bithumb’.

Wemade announced on the 15th that it has secured the position of the second largest shareholder of Bident through a strategic alliance and investment. Through this partnership, Wemade will participate in Bident’s board nominations and management.

Bident, established in March 2002, is a broadcasting display specialist company currently holding over 90% of the domestic market share. It also boasts high technological competitiveness, ranking second in global market share for six consecutive years. In the first quarter of this year, it recorded a net profit of 97.3 billion KRW, an increase of 4765% compared to the same period last year, demonstrating stable business performance.

Bident is also a major shareholder of Bithumb, holding 10.25% of Bithumb Korea and 34.24% of Bithumb Holdings. Notably, Bithumb Korea recorded sales of 250.2 billion KRW and an operating profit of 222.5 billion KRW in the first quarter of this year.

Wemade plans to cooperate to help Bithumb gain global competitiveness based on new cryptocurrency business visions such as NFT and the metaverse.