On June 20, according to a report by PR Newswire, the investment company Parataxis Holdings LLC, focused on the digital assets field, is an affiliate of Parataxis Capital Management LLC. Through Parataxis Korea Fund I LLC and its subsidiaries, Parataxis Holdings has signed a definitive agreement with biotechnology company Bridge Biotherapeutics, Inc. to invest 25 billion Korean won, thereby acquiring a controlling stake in the company ("this transaction"). Upon completion of the transaction, the company plans to change its name to Parataxis Korea and continue listing on KOSDAQ. This transaction is still subject to customary closing conditions, including shareholder approval.

This transaction will facilitate the establishment of a Bitcoin-centric reserve platform in the South Korean public market, backed by institutional investors with extensive experience in digital asset investments. As part of this transaction, Edward Chin, founder and CEO of Parataxis Holdings and co-founder and CEO of Parataxis Capital, will join the company's board of directors. Andrew Kim, a partner at Parataxis Capital, will serve as the company's CEO and will also join the board. James Jungkue Lee, co-founder of Bridge Bio, will continue to lead the company's core biotechnology business and retain a seat on the board.