A New York institution acquires a Korean company for $27.3 million, planning to transform it into an Ethereum treasury.

2025-12-03 13:18:17

[BlockBeats] Recently, there’s been an interesting move coming out of South Korea—New York digital asset firm Parataxis Holdings is dropping 40 billion KRW (around $27.3 million) to acquire a controlling stake in Korean data security company Sinsiway.

But this deal isn’t just about swapping out the boss; Parataxis plans to directly transform Sinsiway into an Ethereum treasury company. If shareholders give the green light in January next year, the company will be renamed Parataxis ETH, Inc., while keeping its listed status in Korea.

Put simply, this is US capital using the Korean market as a route to play the ETH treasury game. Parataxis founder Edward Chin is also expected to join the board. It’s essentially a new attempt by US institutions to establish an ETH asset presence in Asia.

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CryptoMom

· 12-05 09:07

Wait, are they really going to change the Korean company into an Ethereum treasury? LOL, this feels a bit ridiculous.

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DegenWhisperer

· 12-05 01:16

Seriously? What are those people in New York up to again, turning it into an Ethereum vault? That sounds pretty far-fetched, huh.

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OnChainDetective

· 12-03 13:48

traced the money flow on this one - $27.3m acquisition price checks out against historical korean tech m&a patterns, but here's where it gets interesting... why rebrand entirely into an eth treasury vehicle? that's not typical asset acquisition behavior. smells like institutional accumulation wrapped in corporate restructuring tbh

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SchrodingerAirdrop

· 12-03 13:48

$27.3 million turned into an ETH treasury? What do these New Yorkers take the Korean company for?

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GlueGuy

· 12-03 13:45

$27.3 million converted into an ETH treasury? Korea's move this time is pretty impressive.

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DefiOldTrickster

· 12-03 13:35

Huh? 27.3 million at this price to let a Korean company be transformed into an ETH treasury? Looks like this guy wants to play some arbitrage combo, turning a traditional data security company into an on-chain vault. If shareholders approve it in January next year, how is the annualized yield expected? There must be some yield potential here that I haven't thought of.

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0xSunnyDay

· 12-03 13:25

Wait, transforming it into an Ethereum treasury? That’s a bold move, basically overhauling the entire company.

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BearMarketBro

· 12-03 13:21

Wait, $27.3 million converted into an ETH treasury? Is this guy serious? How much profit does he need to make?

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