Korea’s Crypto M&A Heats Up as Naver Eyes Upbit Operator

[AIcash]

The potential Korbit acquisition comes as South Korea’s crypto sector sees increasing consolidation. Earlier reports revealed that Naver Financial plans to acquire Dunamu, the operator of Upbit, in a stock-swap deal valued at 15.1 trillion won ($10.3 billion).

If approved, the transaction would make Dunamu a wholly owned subsidiary of Naver Financial. The deal is expected to pave the way for new digital finance initiatives, including a Korean won-backed stablecoin.

Together, the moves suggest traditional Korean conglomerates are positioning themselves for a larger role in the country’s regulated crypto economy.

[chainsniff]

dunamu just cashed out

[chainsniff]

very convenient after the hack lol