Upbit Founders Win Billions After $13.6B Naver Deal

Song Chi-hyung and Kim Hyoung-nyon, the founders of Upbit, have become billionaires after selling their company to Naver’s finance division for a staggering $13.6 billion. Song will receive $2.7 billion for his 19% stake in the merged entity, while Kim will receive $1.4 billion for his 10%. This transaction marks a significant financial turnaround for the duo after navigating a turbulent crypto market in recent years.