Bithumb, one of the world’s largest crypto exchanges, looks like it will be the first to be publically traded. This big move is being instantiated through a reverse merger involving the holding company Blockchain Industries, according to CNBC.
In a big move forward in financial terms for crypto’s position, Bithumb will likely become the first publically traded crypto company because the reverse merger, while unconventional, is a much faster way to go public than the conventional IPO, which Bitmain and others currently are seeking.
Bithumb has had a number of controversies and accusations levied at it, including allegations of wash trading and other improprieties, and a well-publicized hack which harmed its image tremendously. It’s decision to go public comes after a sizable journey to rehabilitate its public image, but regulators are likely to be looking closely at its behavior, especially as crypto comes up against its well known utility for tax evasion and other ‘nefarious’ activity.