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08/13 05:18

Parataxis seals $18m deal to launch Bitcoin treasu

Parataxis seals $18m deal to launch Bitcoin treasury on KOSDAQ

Following the lead of Strategy and Japan’s Metaplanet, Parataxis is bringing Wall Street’s Bitcoin treasury strategy to Korea with an $18 million takeover of Bridge Bio, signaling deeper institutional crypto penetration.
In a press release on June 20, Parataxis Holdings LLC announced its acquisition of a controlling stake in Bridge Biotherapeutics for KRW 25 billion (about $18 million).
The deal, pending shareholder approval, will see the biotech outfit rebranded as Parataxis Korea, a publicly traded, Bitcoin (BTC)-native treasury company listed on South Korea’s KOSDAQ exchange. Edward Chin, Parataxis’ founder, and Andrew Kim, a partner at its affiliate Parataxis Capital, will join the board, with Kim stepping in as CEO.
Parataxis Korea plans to deploy an institutional-grade Bitcoin treasury strategy built around disciplined capital ..

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