GFA to conduct due diligence on Bithumb stake

GFA Co., Ltd. announced today that it has entered into a due diligence agreement (DD) concerning the acquisition of shares in Initial No. 1 Investment Association, a major shareholder in Bucket Studio Co., Ltd. (KOSDAQ: 066410), INBIOGEN Co., Ltd. (KOSDAQ: 101140), and VIDENT Co., Ltd. (KOSDAQ: 121800). The fund also holds a significant stake in VIDENTE, which effectively owns Bithumb Holdings, the operator of the major South Korean cryptocurrency exchange, Bithumb. Bithumb reported KRW 89 billion in operating profit and KRW 110 billion in net profit for 2024. GFA aims to leverage this investment for expansion in the Web3.0 space and Korean market, potentially including the NYAN SUNG GOLD Token (NSG) project. The DD will be conducted jointly with VALIANT Co., Ltd., YourTurn Co., Ltd., and H1 Asset Management Co., Ltd., with the possibility of further fund-raising. The project remains contingent on DD outcomes and further negotiations.