Bitmax Halts Acquisition of Solowin Holdings Amid Market Challenges

Bitmax, a South Korean cryptocurrency treasury firm, has decided to suspend its acquisition plans for Nasdaq-listed Solowin Holdings due to adverse market conditions. According to NS3.AI, the acquisition was aimed at diversifying Bitmax's business operations as the firm confronts potential delisting pressures following a downturn in the crypto market. As of February, Bitmax possesses approximately 551 BTC, with its most recent Bitcoin purchase occurring in August of the previous year.