South Korean firm Bitmax abandons bid for Nasdaq's Solowin Holdings

Bitmax, a South Korean listed crypto treasury company, has effectively abandoned its bid to acquire Nasdaq-listed Solowin Holdings (AXG), Chosun Biz reported. The company had pursued the acquisition to diversify its business as it faces a substantive delisting review following the recent crypto market downturn. According to the report, the deal is now on hold due to market conditions. As of February, Bitmax holds approximately 551 BTC, with its last purchase made in August of last year.