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Upbit, Bithumb earnings slump as trading value falls, push to diversify in H2

South Korea\'s digital asset trading market has contracted, sharply reducing first-half results at leading exchanges Upbit and Bithumb. Dunamu, which operates Upbit, said operating profit fell about 80 percent from a year earlier, while Bithumb\'s operating profit dropped more than 80 percent and it posted a net loss amid digital asset valuation losses. The two firms are expanding services and preparing for corporate clients while boosting compliance and security investment.

Crypto

Dunamu first-half operating profit 111.5 billion won, down 79.7 percent

Dunamu, which operates the digital asset exchange Upbit, reported sharp declines in revenue and operating profit in the first half of this year from a year earlier. It said market trading had contracted. The company posted first-half consolidated operating revenue of 408.1 billion won, down 49.1 percent from 801.9 billion won a year earlier. Operating profit fell 79.7 percent to 111.5 billion won. Net profit dropped 74.1 percent to 108.4 billion won.

Crypto

Dunamu expands youth self-reliance support; 4,122 aided over 3 years

Dunamu said on Tuesday it has supported a total of 4,122 young people over the past three years through its Upbit Next Series, a programme aimed at credit recovery and economic self-reliance. The three-stage initiative links credit recovery, asset building and job connections. Its Upbit Next Series: Didim has aided 936 people, providing financial consulting, living expenses support and zero-interest loans. Dunamu said mentoring indicators improved in a third-year analysis.