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Bybit is said to be negotiating the acquisition of the South Korean exchange Korbit.
According to Maeil Business Newspaper, Bybit is pursuing the acquisition of Korbit — the fourth largest crypto exchange in South Korea. Sources say Bybit has met with the Korbit leadership to initiate the takeover process. Korbit is currently owned 60.5% by NXC and 31.5% by SK Planet; Bybit is said to be considering acquiring SK's stake before moving towards complete ownership.
Bybit responded that they “are unaware of the market rumors” related to the transaction and recommended users to follow the official website for updates.