$10.3 Billion Bet to Swallow Upbit Sparks Market Frenzy — TradingView News
Naver (NHNCF) just fired the opening shot in what could be South Korea’s biggest digital-finance reshuffle in years. The company agreed to acquire Dunamu Inc., the operator behind Upbit, in an all-stock deal valued at around $10.3 billion a move that sent Naver shares up as much as 7.7% in after-hours trading. The transaction runs through Naver Financial, which will issue 2.54 new shares for every Dunamu share, positioning the internet giant to deepen its reach into a market where Upbit has often ranked among the world’s top five exchanges and holds more than 80% domestic share. For investors, the deal possibly marks an attempt to secure a long runway in a country where crypto trading is part of daily financial life for more than 18…
