Odaily Planet Daily News: South Korean cryptocurrency exchange Bithumb is transforming its discontinued subsidiary Bithumb Meta into Bithumb Partners and changing its main business to investment, similar to the investment institution Bithumb sought to establish when it attempted to split last year. Industry insiders revealed that Bithumb made this name change in the fourth quarter of last year and increased its capital to 30 billion won. Previously, the capital at the establishment of Bithumb Meta was 29 billion won, with an additional investment of 1 billion won this time. Bithumb holds 100% of the shares. The affiliated companies LGCNS, CJ Olive Networks, and SK Square, which invested about 10 billion won in Bithumb Meta three years ago, liquidated their shares in the second half of last year. During this period, Bithumb Meta has been engaged in businesses such as NFTs and the metaverse, but failed to generate significant performance and lost most of the investment. Bithumb Partners will mainly be responsible for using Bithumb's own funds for short-term debt investments in stocks, bonds, etc., distinguishing it from the subsidiary Bithumb Investment, which is mainly responsible for investing in external companies. Industry insiders pointed out: 'When Bithumb officially implements personnel restructuring, it proposed a corporate structure centered on the exchange and a new investment corporate system, so the establishment of this investment subsidiary seems to be somewhat related. Given that Bithumb has publicly announced plans for an IPO this year, the market is highly concerned about how its initiatives, such as the establishment of subsidiaries, will progress.' (BizWatch)