Bybit Pays $3.8M for Convertible Bonds from T-Scientific, Bithumb's Third Largest Shareholder

According to CoinDesk, cryptocurrency exchange Bybit has invested 5.5 billion won ($3.8 million) in T-Scientific, the third largest shareholder of South Korean encryption exchange Bithumb, at the end of last month, mainly in the form of purchasing its convertible debt, accounting for One-third of its total issuance, aiming to further expand into the Korean blockchain market. Foresight News note, a convertible bond is a fixed-income security that pays interest and, under certain conditions, can be converted into equity.