Cryptocurrency Exchange Bitstamp gets acquired

Recently, a Belgium based investment firm has brought a popular cryptocurrency exchange, going by the name of Bitstamp, which was founded in Luxembourg. It is worthy to note that the parent company of this investment firm is also the owner of Korbit,  a south Korean exchange firm.

 Although the real numbers, at which the transaction has been settled, have not come out officially, it is being rumoured that the deal was settled at close to $400 million. What has also emerged from the deal is that it has been finalised on all cash basis.

What has emerged from the founder of the exchange, Nejc Kodric, is a stunning revelation about how in spite of the major downfall and a seemingly uncertain scope of the cryptocurrency market, Bitstamp has continued to show a profitable side. Only two years back, the exchange was valued at a staggering figure of $60 million, with the company stating that it transacts for over $100 million each day.
The figures reveal just how well the exchange has been operating in the past and continues to do so, even today, justifying its profitable state.

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