[South Korea's Second-Largest Crypto Exchange Bithumb Introduces Brokerage Shareholder, Kiwoom Securities Seeks Private Placement Investment] BlockBeats News, June 29: South Korea's Kiwoom Securities is in discussions with Bithumb regarding a third-party private placement, aiming to acquire shares by subscribing to new stock. The specific shareholding ratio and investment scale are still under negotiation. Following Samsung, Mirae Asset, and Korea Investment & Securities, another major brokerage firm has joined the race to acquire equity in crypto exchanges. This investment comes as South Korea's financial regulators advance the second phase of virtual asset law reforms, proposing to cap the shareholding ratio of major exchange shareholders at 20% in principle, with exceptions allowing up to 34%. Bithumb's current largest shareholder, Bithumb Holdings, holds a 73.56% stake, which would face significant divestment pressure if the regulations are implemented. Bithumb is currently pursuing plans for a KOSDAQ listing, with Samsung Securities as the lead underwriter, and aims to enhance its valuation by splitting its core trading business from new business segments. Whether Kiwoom Securities' private placement constitutes pre-IPO strategic financing and how it aligns with the IPO timeline are expected to be key issues in the transaction structure. Bithumb stated that it is exploring various possibilities for collaboration with financial institutions and enterprises, but no specific plans have been finalized yet. [Original Link]