Naver To Acquire Korean Crypto Exchange Giant Dunamu In $10 Billion Deal
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South Korean search engine behemoth Naver is acquiring Dunamu in a stock swap that values the country’s largest crypto exchange operator at 15.1 trillion won ($10.3 billion).
Naver said in a regulatory filing on Wednesday that its payment arm, Naver Financial, will exchange each of its shares for 2.54 Dunamu shares. The transaction, set to be completed in June 2026, values Naver Financial at 4.9 trillion won.
Dunamu was at one point valued at $17 billion during the crypto boom of 2021, when Hybe, which manages K-pop powerhouse BTS, acquired a 2.5% stake for about $400 million. As of September, Song Chi-hyung, cofounder and chairman of Dunamu, owns 8,896,400 shares, or 25.52%, in the Seoul-based…
