Parataxis plans to acquire South Korean company Sinsiway for $27 million and transform it into an Ethereum treasury company
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Parataxis plans to acquire South Korean company Sinsiway for $27 million and transform it into an Ethereum treasury company
According to CoinDesk, New York-based digital asset investment firm Parataxis Holdings has agreed to acquire control of South Korean data security company Sinsiway for 40 billion South Korean won (approximately $27.3 million) and transform it into an Ethereum treasury company. If approved by Sinsiway shareholders in January 2026, the company will be renamed Parataxis ETH, Inc., retaining its stock exchange listing and becoming South Korea's first Ethereum asset treasury platform backed by U.S. institutional capital. Edward Chin, founder and CEO of Parataxis Holdings, is expected to join the board. Previously, Parataxis launched Parataxis Korea, focused on a bitcoin treasury business, which currently holds 150 BTC valued at nearly $14 million.
Navigating Web3 tides with focused insightsTechFlow news, December 3 — According to CoinDesk, New York-based digital asset investment firm Parataxis Holdings has agreed to acquire control of South Korean data security company Sinsiway for 40 billion South Korean won (approximately $27.3 million), transforming it into an Ethereum treasury company.
If approved by Sinsiway shareholders in January 2026, the company will be renamed Parataxis ETH, Inc., maintaining its listing on the securities exchange and becoming South Korea's first Ethereum asset treasury platform backed by U.S. institutional capital. Edward Chin, founder and CEO of Parataxis Holdings, is expected to join the board.
Previously, Parataxis launched Parataxis Korea, a treasury venture focused on Bitcoin operations, which currently holds 150 BTC valued at nearly $14 million.
