Parataxis Holdings LLC has reached a final agreement with Sinsiway Co. Ltd. in a deal worth up to KRW 35 billion. This agreement will give Parataxis Holdings a controlling interest in Sinsiway. After the deal is completed, Sinsiway plans to change its name to Parataxis ETH, Inc. and remain listed on the KOSDAQ stock exchange. The deal is still subject to closing conditions.
This transaction will create South Korea’s first Ethereum-based treasury management platform on public markets, backed by institutional investors in the U.S. with expertise in managing digital assets.
As part of the agreement, Edward Chin, the CEO of Parataxis Holdings and Parataxis Capital, will join Sinsiway's board. Michael Myunghoon Lee from Com2uS and CRIT Ventures will become the new CEO of the company.
In the future, the shares owned by Parataxis Korea will be transferred between related entities to separate the management of the Bitcoin (BTC) and Ethereum (ETH) treasury businesses.
Further details about the deal are expected to be announced after a shareholder meeting scheduled for January 2026. Shin & Kim LLC is advising Parataxis Holdings legally in this transaction.
Executive Statement
According to Edward Chin, Founder and CEO of Parataxis Holdings, and Co-Founder & CEO of Parataxis Capital, will be joining the Board of Directors of the Company, following the recent transaction that created our franchise’s inaugural Bitcoin treasury platform, Parataxis Korea, Inc., they are excited to announce Parataxis ETH, Inc. as an independent, differentiated Ethereum treasury platform that will bridge traditional institutional finance and the on-chain digital economy of Ethereum. Ethereum continues to play a central role in major use cases such as stablecoins, decentralized finance, and gaming, supported by growing institutional participation. With this Transaction, the Parataxis Holdings team is proud to bring the two most dominant digital transaction management in Bitcoin and Ethereum to the South Korean public markets.