In the year 2025, as South Korea’s cryptocurrency scene is teetering between chaos and opportunity, Bithumb, the great exchange, makes its move. A storm is brewing—regulations tightening, political winds shifting—but Bithumb remains calm, even as it prepares to leap into the uncertain, glittering world of an IPO.
Bithumb Decides to Go for a Split: A New Chapter?
On the 31st of July, Bithumb will surgically divide its empire, creating a new, separate entity named “Bithumb A” for its non-exchange operations. Why, you ask? To protect its beloved core from the chaos of side ventures, of course. Bithumb will hold on to 56% of the newly minted Bithumb A, while the rest (44%, because who doesn’t love a good fractional split?) will be left to fend for itself.
This daring move is like putting the exchange on a diet—focusing only on what it does best, in preparation for a glorious future IPO. No distractions, just focus. And maybe a little drama for the audience to enjoy.
The Nasdaq Dream & A Profit Surge That Can’t Be Ignored
Bithumb has set its sights on an IPO in the second half of 2025, with Samsung Securities leading the charge as underwriters. While a home turf listing is likely, don’t be too surprised if they take their act to Nasdaq, making their bold move known across the globe.
And let’s talk numbers for a moment—2024 was a stellar year for Bithumb. The company saw an impressive net profit of $110 million, a 560% jump from the previous year. Of course, they’re still a bit behind Upbit’s $671 million, but hey—nobody likes a show-off, right?
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The Regulatory Beast Roars
But hold your applause—there’s a dark cloud above Bithumb. The regulators are closing in. Earlier this year, Bithumb was slapped with a suspension notice for failing to meet KYC standards, affecting thousands of users. Oh, the drama! And let’s not forget that Bithumb had to pony up some compensation for the users who suffered from service interruptions during the political madness of late 2024.
As if that wasn’t enough, the Financial Intelligence Unit (FIU) decided to slap a partial suspension on Dunamu, Bithumb’s operator, citing connections to unregistered foreign platforms. Because why not add a little more spice to the story?
The Road Ahead: An IPO or a Rollercoaster?
As South Korea tightens its grip on digital asset regulation, Bithumb’s split could be its secret weapon, a calculated move to dodge the incoming regulatory bullets. The company might just surprise us all with its IPO landing either on the streets of Seoul or in the heart of Wall Street. One thing’s for sure—Bithumb is playing the long game. The exchange doesn’t want to just remain a local favorite; it’s aiming for global domination. 🌍💸
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2025-04-22 13:40