Bithumb’s Largest Shareholder Possibly Behind Recent Upbit News

Allegedly Bithumbs’s largest shareholder is behind the recent news of a prosecutor raid at UPbit.

Back in January, multiple news sources in Korea reported that Etoday’s Vice-Chairman, Sang-Woo Kim, makes major decisions at Bithumb, one of the country’s largest crypto exchanges. Etoday is a news media group that first reported the article regarding Upbit today.

Bithumb is operated by BTCKorea. 76% of its shares are owned by BTC Holding Company, 10.6% by Vidente, and 8.4% by Omnitel.

Both Vidente and Omnitel, however, own 10%  and 6% respectively of BTC Holding Company’s shares.

Omnitel is owned by Sang-woo Kim.

As for Vidente, its biggest shareholder is Bit Galaxia Investment Company. Bit Galaxia Investment Company was founded by WIZIT and Jae-wook Kim, CEO of ARTISTCOMPANY.

In summary, the Vice-Chairman of Etoday is the largest shareholder of WIZIT, Vidente, Omnitel, and most likely the biggest shareholder of BTCKorea, which operates Bithumb.

edited by: Brian Newar