SBI VC Trade to begin processing spot trading of 14 cryptocurrencies on DMM Bitcoin

On December 2nd, Japanese cryptocurrency exchange DMM Bitcoin announced that it had raised approximately 55 billion yen (365.1 million US dollars) through various financing plans in June. Specifically, on June 3rd, the company raised 5 billion yen (33.2 million US dollars) through borrowing, and on June 7th, it raised 48 billion yen (318.6 million US dollars) through capital increase. The last funds arrived on June 10th, when DMM Bitcoin obtained an additional 2 billion yen (13.3 million US dollars) through subordinated loans.

The official statement stated that DMM Bitcoin plans to cease operations after completing asset transfer to SBI VC Trade.

SBI VC Trade announced on Monday that it plans to begin spot trading of the 14 cryptocurrencies currently traded on DMM Bitcoin before completing the transfer of custody assets.

This morning, DMM Bitcoin announced that it will cease operations. Due to the theft of 48.2 billion yen worth of Bitcoin in May of this year, which resulted in its services being restricted, the company gave up its attempt to reorganize its operations. Customer assets held by DMM Bitcoin are expected to be transferred to the cryptocurrency exchange SBIVC Trade under the SBI Group around March 2025. In May, DMM Bitcoin was hacked and lost 4,502.9 BTC, resulting in a loss of 305 million US dollars.