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Crypto

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

Bithumb Q2 operating profit falls 44 percent on drop in trading value

Bithumb said on Thursday its second-quarter sales and operating profit fell from a year earlier as digital asset trading value declined. It posted 86.3 billion won in revenue and 12.1 billion won in operating profit. Net results swung to a 21.8 billion won loss, reflecting factors including valuation losses on digital assets. The company said a prolonged hawkish U.S. rate stance and shifting investor interest weighed on trading.