Korbit to sell $2.4M in Bitcoin to cover labor costs

South Korean crypto exchange Korbit will sell approximately 3.2 billion won ($2.37 million) in virtual assets to cover operating expenses, including labor costs, News1 reported. According to a company disclosure, Korbit plans to sell 25 Bitcoins through the Upbit and Bithumb exchanges between Feb. 5 and March 31. The holdings were valued at approximately 3.2705 billion won as of Jan. 25. The proceeds from the sale are planned to be used for operating expenses.