DISNEY COULD SOON OWN OLDEST BITCOIN EXCHANGE IN $13 BILLION EQUITY DEAL

As local news outlet JoongAng Ilbo reported quoted by Korea Herald April 17, Disney is currently one of the major bidders for a 98.6 percent stake in Nexon, South Korea’s largest game developer and the second-largest online games publisher in the world. Nexon is 47 percent owned by NXC, the chairman of which, Jung-ju Kim, is behind the shares sale. According to JoongAng Ilbo, various major entities had taken an interest in the stake. These include Tencent and Kakao, both of which are currently pursuing cryptocurrency-related projects of their own. Disney, however, is allegedly first in line, with Kim personally reaching out to the US corporation. Should the $13.2 billion deal go ahead, however, Disney will have access to European exchange Bitstamp via NXC’s investment structure NXMH, which purchased it for around $400 million in late 2018. Also under control would be South Korean mainstream platform Korbit, in which Nexon has a 65 percent stake.