[SBI Holdings Initiates Negotiations for Equity Acquisition of Crypto Exchange Bitbank] According to The Block, Japanese financial group SBI Holdings is in negotiations with crypto exchange Bitbank regarding an equity acquisition, aiming to incorporate it into its consolidated subsidiary system to strengthen its presence in Japan's crypto market. SBI Chairman and President Yoshitaka Kitao stated that the company has submitted a letter of intent for the acquisition and has officially initiated discussions on capital and business collaboration with Bitbank. The equity acquisition will proceed following the completion of due diligence and internal approval processes, with the specific transaction structure and timeline still under further negotiation. Bitbank is one of Japan's leading crypto trading platforms and has not experienced any major hacking incidents since its establishment in 2014, focusing on security and compliance capabilities.