FTX is reportedly in late-stage talks to acquire Bithumb, the South Korean crypto exchange with over 8 million registered users.

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The companies have been in discussions for “several months”, an anonymous source told Bloomberg. When asked about the report, an official from the crypto exchange said: "We cannot confirm anything over the report or whether both sides are in talks for any deal."

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This comes just weeks after FTX acquired the Canadian crypto exchange Bitvo in a move to expand its global reach and work with cryptocurrency regulators across the globe.

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“Canada has shown a growing interest in digital asset trading, and we’re thrilled to help provide entry into one of the leading regulated crypto asset trading platforms in the world to the Canadian cryptocurrency community. We look forward to transforming Canadian’s access to the digital asset ecosystem as part of FTX,” CEO Sam Bankman-Fried said.

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Earlier this month, FTX entered a deal with BlockFi to take over the struggling crypto lending platform. FTX purchased BlockFi for $240 million, based on performance triggers. The deal also included a $400 million revolving line of credit facility, subordinate to all client funds.

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