News Forum - SCB-Bitkub deal fizzles as young investors lose big on crypto

[Thaiger]

As the crypto market cools and young, naive investors lose big, the deal for SCB Group to acquire a majority stake in Thai digital asset exchange Bitkub Online has fallen apart. The deal, announced in November of last year, pushed Bitkub Online’s value over US$1 billion and drove the company’s own cryptocurrency to triple in value overnight. Siam Commercial Bank Group’s parent company SCBX struck a deal to take over 51% of shares of Bitkub from its parent company Bitkub Capital Group Holdings, a deal valued at the time at 17.85 billion baht. But the bank corporation announced Thursday that […]

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[Janneman]

Oh dear. Let me guess, the owners of Bitkub sold some of their shares to other investors. Who now face a significant loss. While the Bitkub-owners are enjoying a well-earned holiday.

[Marc26]

The amount of Thai University students investing in Crypto was shocking to me!

 

My stepson has gotten burned a few times.......it's his allowance so he loses it, he doesn't get anymore