South Korean Cryptocurrency Exchange Bithumb Delays IPO Until After 2028

Odaily News A Bithumb executive stated that the company will "focus on preparing for listing by 2027." CFO Jeong Sang-gyun said at the company's annual shareholders' meeting that Bithumb is "strengthening accounting policies and internal controls" after signing an IPO consulting contract with Samjong KPMG. Previously, Bithumb had originally planned to go public in 2025.

At the shareholders' meeting, CEO Lee Jae-won was re-elected for a two-year term. During his tenure, Bithumb was suspended from operations for six months and fined $24 million by South Korean regulators for alleged violations of anti-money laundering regulations.

In addition, Dunamu, the operator of another major South Korean exchange Upbit, also plans to conduct an IPO after completing a share swap with Naver Financial, expected to take place in September.