Bithumb sees sharp revenue decline before IPO reassessment
In 2023, Bithumb Korea, a cryptocurrency exchange in South Korea, reported a decrease in revenues. Based in Seoul, the exchange suffered a 57.6% decrease in sales revenue in 2023. The numbers fell from 3.201 billion won in 2023 to 1.358 billion won in 2022. On April 2, the Korean news outlet, Newdaily, also confirmed this. […]
Bithumb rises to challenge Upbit’s dominance in South Korea’s crypto market
Bithumb is increasingly challenging Upbit’s long-held market dominance. This development emerges amid a surge in crypto trading activity nationwide, particularly with Bitcoin’s rising popularity. Bithumb’s aggressive strategies and recent achievements have sparked a heated rivalry with Upbit, signaling a potential change in market leadership. Market dynamics and competitive strategies Recent data highlights a significant uptick […]
Bithumb’s Ex-Chairman faces 8-year prison term in crypto scandal
In a significant development in the world of cryptocurrency, former Bithumb Chairman Lee is facing an eight-year prison sentence as South Korean prosecutors allege his involvement in a complex scheme to manipulate the exchange’s governance and profit from exchange tokens while evading financial regulations. This legal saga traces back to October 2018 when Lee, then-chairman […]
Bithumb scandal deepens as Lee Jeong-hoon faces jail time
In a significant development within South Korea’s cryptocurrency industry, Lee Jeong-hoon, the former chairman of the major crypto exchange Bithumb, faces a pivotal moment with an eight-year jail sentence looming over alleged fraudulent activities. As the January 18, 2024, appeal hearing nears, the case has become a focal point, highlighting critical issues surrounding crypto governance […]
Bithumb prepares for IPO on KOSDAQ, aims to revitalize market position
In a significant development within South Korea’s dynamic cryptocurrency sector, Bithumb, a leading crypto exchange, is gearing up for an Initial Public Offering (IPO) on the KOSDAQ. This strategic move marks a pivotal moment for the company as it seeks to bolster its position in the highly competitive market. Bithumb Korea, operating the platform, has […]
Crypto exchange Bithumb head arrested in South Korea
The alleged true owner of Bithumb, the largest cryptocurrency exchange in South Korea, has been arrested on the grounds of embezzlement on February 2. According to the prosecution, they arrested Kang and a person listed only as Cho on the allegations. According to the local news source JTBC, another person, identified only as Cho, has […]
