Korea's Bit Hum Exchange just got bought.

Good evening. I'm Stan Higgins, and this is late confirmation from CoinDesk,

bringing you the top stories from October 12th.

Also on today's show, former Trump Economic Advisor Gary Cohn has linked up with a blockchain startup,

and Ethereum's Constantinople hard fork, which will bring

several improvements to the network, is inching closer. We'll have all that and more coming up

on late confirmation. The largest cryptocurrency exchange in South Korea by trading volume has been

sold. Bit Hum says it's sold more than 38% of its total ownership

to a blockchain consortium based in Singapore for $400 billion or $350 million.

As reported by Coin Desk Korea, BITHum confirmed the deal was signed on October 11th with BK Global Consortium, a blockchain

investment firm formed by BK Global, a plastic surgery medical group in Singapore.

BTC Holdings Company, which currently owns 76% of Bithum's equity, has agreed to sell 50% plus

one shares of that ownership to BK Group, a move that would

make the latter the biggest controller of Bid Hum when the transaction is complete. The report

added that the acquisition deal valued Biham at more than $1 trillion, or around $880 million.

Subsequently, Kim Bung Gun, a plastic surgeon and also the chairman of BK Group,

will be the largest shareholder of Bidhum. The news comes just months after several of Bit Hum

shareholders revealed the crypto exchange's financial numbers, showing it made net profits of about

$35 million in the first half of this year,

despite a rough June for the firm after a $40 million hack.

Open source coders backing the Ethereum project now say its next system-wide upgrade,

Constantinople, is on track for a late November release. Revealed in a

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