Founder of South Korea’s largest crypto exchange becomes a billionaire through a $13.6 billion acquisition deal

ChainCatcher news, according to Bloomberg, the founders of South Korea's largest cryptocurrency exchange Dunamu Inc., Song Chi-hyung and Kim Hyoung-nyon, agreed last week to sell the company to the fintech arm of Naver Corp. The transaction will be conducted entirely in stock.

According to the Bloomberg Billionaires Index, in this $13.6 billions merger and acquisition deal, Song Chi-hyung will receive a 19% stake in the merged entity, valued at $2.7 billions; Kim Hyoung-nyon will receive a 10% stake, valued at $1.4 billions. With this, both have entered the ranks of the world's wealthiest individuals.