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Parataxis Agrees to Buy Control of South Korea's Sinsiway for $27M, Build Ether Treasury
The deal would rename Sinsiway as Parataxis ETH, Inc. and make it South Korea's first ether-focused treasury platform backed by U.S. institutional capital.
Dec 3, 2025, 12:57 p.m.
What to know:
- Parataxis Holdings plans to acquire data security company Sinsiway for $27 million and transform it into a publicly traded ether (ETH) treasury firm.
- The deal would rename the company Parataxis ETH, Inc. and make it South Korea's first ether-focused treasury platform backed by U.S institutional capital.
- The new entity will hold ether as part of its core strategy, linking traditional finance with on-chain assets, and will be part of Parataxis's broader strategy to bring digital assets into public markets.
Parataxis Holdings, a New York-based digital asset investment firm, said it agreed to buy most of South Korean data security company Sinsiway (290560) for 40 billion won ($27.3 million) and transform it into a publicly traded ether treasury firm.
Parataxis and unidentified affiliates will gain a controlling stake in the 20-year-old company. If approved by Sinsiway’s shareholders in January 2026, the company will be renamed Parataxis ETH, Inc. and retain its stock-exchange listing, according to a press release shared with CoinDesk.
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The renamed entity would become South Korea’s first ether-focused treasury platform backed by institutional capital from the U.S., according to the release. Parataxis Holdings’ founder and CEO, Edward Chin, is expected to join the board.
The move is part of Parataxis’ broader strategy to bring digital assets into public markets. Earlier, it launched Parataxis Korea, which focuses on bitcoin treasury operations. According to BitcoinTreasuries, the company currently holds 150 BTC worth nearly $14 million.
The ETH-focused entity will serve a similar purpose, holding ether as part of its core strategy while linking traditional finance with onchain assets such as stablecoins, DeFi protocols and blockchain-based games.
“Ethereum is entering its own super cycle, centered on Wall Street adoption, as the most trusted platform supporting key use cases such as stablecoins, Decentralized Finance (DeFi), and gaming,” Chin said in a statement.
Parataxis Capital, founded in 2019, manages hedge funds and advises institutional clients.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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