Parataxis Holdings LLC has agreed to acquire a controlling interest in South Korean biotech firm Bridge Biotherapeutics for KRW 25 billion ($18.3 million), with plans to rename it Parataxis Korea and establish the country’s first institutionally backed Bitcoin treasury company while keeping its KOSDAQ listing.
Parataxis Holdings LLC has signed a definitive agreement to acquire a controlling interest in South Korean biotech firm Bridge Biotherapeutics (KOSDAQ: 288330) for KRW 25 billion ($18.3 million), creating South Korea's first institutionally backed Bitcoin treasury company. The renamed entity, Parataxis Korea, will continue trading on KOSDAQ while maintaining existing therapeutic development programs and establishing a Bitcoin treasury. Key executives Edward Chin and Andrew Kim will join the board, with Kim becoming CEO. Inspired by Bitcoin treasury strategies of companies like Strategy (US) and Metaplanet (Japan), the move signals growing institutional adoption in Asia. The transaction is subject to shareholder approval in August, with Shin & Kim LLC and Deloitte serving as advisors.
Starting July 1, 2026, the Korea Exchange (KRX) will enforce higher market capitalization thresholds for KOSDAQ-listed companies. Several Digital Asset Treasury (DAT) firms with large crypto holdings have seen their market caps fall below the new minimums, with Bitmax already in danger. If the downtrend persists, the first wave of delistings could begin in early 2027.
