[Featured Stocks] Bident and Wijit Soar Over 20% on News of US FTX-Bithumb Acquisition Plans

[Asia Economy Reporter Myung-hwan Lee] Vidente and Wijit, which are grouped as related stocks of the domestic cryptocurrency exchange 'Bithumb,' have been strong since the early trading session on the 25th. This appears to be due to news that the U.S. cryptocurrency exchange FTX is pursuing the acquisition of Bithumb.

As of 9:36 a.m. on the day, Vidente is trading at 11,750 KRW, up 28.14% (2,580 KRW) from the previous trading day. Wijit is also trading at 1,095 KRW, up 22.07% (198 KRW). At the same time, Wijit's subsidiary T Scientific is showing 3,300 KRW, up 14.58% (420 KRW) compared to the previous trading day.

On the 22nd (local time), Bloomberg News quoted an anonymous source involved in the acquisition negotiations, reporting that "FTX is making advanced negotiations to acquire Bithumb" and that "the two companies have been discussing the acquisition issue for several months." FTX is a cryptocurrency exchange led by 30-year-old American billionaire Sam Bankman-Fried.

However, the news agency reported that FTX declined to comment. Bithumb also stated in a phone call with Asia Economy on the 23rd, "There is no information we can confirm."

Vidente is the largest shareholder of the domestic cryptocurrency exchange Bithumb. Wijit is grouped as a related stock because its subsidiary T Scientific is known to have a special relationship with Bithumb's operator Bithumb Holdings.