South Korean Crypto Exchange Bithumb Plans for IPO
Bithumb, a South Korean cryptocurrency exchange, is reportedly making preparations for an initial public offering (IPO) in Korea. According to a local media report by Edaily, the exchange has selected Samsung Securities as its underwriter for a potential IPO planned in the second half of 2025 on Kosdaq.
The report also revealed that Lee Jeong-hoon, the company’s former chair who had faced fraud allegations in 2018 related to the exchange’s acquisition, has returned as a registered director on its board after being acquitted earlier this year.
Despite these developments, Bithumb has not responded to requests for comment from The Block regarding its IPO plans.
Hot Take: Bithumb’s IPO Signals Crypto Exchange Maturity
Bithumb’s decision to pursue an IPO in Korea demonstrates the growing maturity of the cryptocurrency exchange industry. By seeking public investment, Bithumb aims to enhance transparency and credibility, which could potentially benefit the broader crypto market. Additionally, the return of Lee Jeong-hoon following his acquittal signifies a potential shift in leadership dynamics within the company. As Bithumb moves towards becoming a publicly-traded entity, it may set a precedent for other exchanges to follow suit, further integrating cryptocurrencies into traditional financial systems.
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