Bithumb leaps forward as Korea’s first public cryptocurrency exchange
Key Takeaways
- Bithumb is preparing for an initial public offering (IPO) to become the first digital asset company listed on the domestic stock market.
- The listing move comes amid a leadership change and competition from rival exchange Upbit.
- Despite facing regulatory issues, Bithumb still plays a significant role in the Korean cryptocurrency exchange market.
BithumbOne of the best cryptocurrency exchanges in Korea, We are preparing for an initial public offering (IPO)..
Local media Edaily reported that this move could lead to Bithumb. The first digital asset company listed on the domestic stock market, KOSDAQ. The stock exchange serves as Korea’s counterpart to the U.S. Nasdaq.
Did you know?
Do you want to become smarter and richer with cryptocurrency?
Subscribe – We post new cryptocurrency explainer videos every week!
What’s worth noting is Expected to be listed in the second half of 2025.
On the other hand, Bithumb They are keeping quiet about the IPO plans being confirmed., recent developments represent serious progress. On cryptocurrency exchanges Samsung Securities selected as the acquirerThis is an important step to protect the financial stability of the company as it prepares for listing.
Before being revealed, Bithumb witnesses significant changes in leadership. former chairman Lee Jeong-hoon returns as registered director. In contrast, the CEO Director Lee Sang-jun was dismissed from the board of directors. This is because an investigation into allegations of bribery is ongoing.
Bithumb’s decision to pursue a listing is believed in part to be: A strategic move to maintain a competitive edge against Korea’s largest cryptocurrency exchange, Upbit.. Although Bithumb ranks second in the world in terms of daily trading volume, it is showing a large gap with Upbit, which has recently surpassed global giants such as Coinbase and OKX in terms of monthly trading volume.
The road to an IPO is fraught with legal challenges. both Bithumb and Upbit came under regulatory investigation last May. After search and seizure by Korean authorities Alleged fraudulent cryptocurrency trading activities. Also, early this year, Bithumb’s major shareholder Jong-Hyeon Kang, who is suspected of being the ‘actual owner’, was arrested on charges of embezzlement.
Bithumb’s anticipated IPO marks a major step forward for the Korean cryptocurrency industry, potentially making it the first digital asset company to be listed on the KOSDAQ. Despite the challenges, this move highlights Bithumb’s commitment to strengthening its market presence and pioneering the integration of cryptocurrencies with traditional financial markets.
Gile is a market sentiment analyst who understands which public events create which emotions. Her experience investigating Web3 news and public market messaging, including cryptocurrency news reporting, PR, and social network streams, will be invaluable to her role leading the cryptocurrency news editorial team.
As an intelligent expert in the field of Public Relations, she works with her team to identify real VS fake news patterns and aims to provide her results to everyone searching for unbiased news and events happening in the FinTech market. Her expertise is informing the public of the latest reliable and informative Web3 announcements.
When she’s not investigating the credibility of mainstream stories, she spends her time enjoying the terrace views and meticulously maintaining her outdoor environment.
