Parataxis Holdings is going public in Korea through a "shell" listing, with Bitcoin as the core reserve.

On June 20, PR Newswire reported that Parataxis Holdings LLC, an investment firm focused on the digital asset space, is an affiliate of Parataxis Capital Management LLC. Through Parataxis Korea Fund I LLC and its affiliates, Parataxis Holdings has signed a definitive agreement with Bridge Biotherapeutics, Inc., a biotechnology company, to invest KRW 25 billion to acquire a controlling stake in the company (the “Transaction”). Upon completion of the transaction, the Company plans to change its corporate name to Parataxis Korea and continue to list on KOSDAQ. The transaction remains subject to customary closing conditions, including shareholder approvals. The transaction will lead to the creation of a Bitcoin-based reserve platform in South Korea’s public market, backed by institutional investors with extensive experience in investing in digital assets. As part of the transaction, Edward Chin, founder and chief executive officer of Parataxis Holdings and co-founder and chief executive officer of Parataxis Capital, will join the company’s board of directors. Andrew Kim, Partner at Parataxis Capital, will become the company’s Chief Executive Officer and join the Board of Directors. Bridge Bio co-founder James Jungkue Lee will continue to lead the company’s core biotechnology business and retain a seat on the board.