Get Ready for the Bithumb Bonanza South Korea’s Hottest Crypto Exchange Sets Its Sights on an IPO in the Second-Half of 2025!

South Korean Crypto Exchange Bithumb Aims to Launch IPO in Second-Half of 2025 Report

Calling all digital asset investors! Hold on to your hats because I’ve got some news that will make your crypto-loving hearts skip a beat. Cryptocurrency exchange Bithumb has big plans to go public in South Korea, and they’re not messing around.

Just picture it: Bithumb, strutting onto the stage of the South Korean stock market like a crypto rockstar. They’re aiming to list on Kosdaq, the Nasdaq’s South Korean sibling. But that’s not all, folks. They’re also considering an initial public offering (IPO) on the main stock market, the Kospi. It’s like “cryptomania” on steroids!

According to The Korea Herald, a Bithumb official spilled the beans, saying, “We selected Samsung Securities as our manager for initial public offering. We aim to go public during the second half of 2025.” Now that’s a plan with some serious ambition!

Here’s the kicker: if Bithumb’s IPO goes through, it will be the first time a Korean crypto exchange hits the stock market. Cue the confetti and applause! Sure, there were rumors in 2020 that Bithumb was considering a share sale, but they shot those rumors down faster than a rocket-powered Bitcoin. Now they’re back and ready to conquer the market.

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But why all this hoopla, you ask? Well, Bithumb has its eye on the prize: grabbing more market share and giving its competitor, Upbit, a run for its crypto riches. Upbit currently holds over 80% of the South Korean market. Talk about a crypto kingdom!

Now, here’s the part that will have you scratching your heads and wondering if you stumbled upon a crypto-themed episode of CSI: South Korean edition. The government in South Korea decided to crack down on the crypto industry in 2021. They’re on a mission to tackle fraud and put an end to other shady activities. Bithumb’s offices even got a surprise visit from the authorities earlier this year as part of a probe into price manipulation of a mysterious digital asset. Who knew crypto could be so scandalous?

But don’t despair! Despite all this chaos, crypto trading in South Korea is still going strong. Upbit, the impressive contender we mentioned earlier, managed to surpass Coinbase and OKX in August to become the world’s second-largest crypto exchange after the famous Binance. Upbit is like the “sleeping giant” of the crypto world, suddenly waking up and taking over!

What are Bithumb and Samsung Securities saying about all of this? Well, dear readers, it seems they’re keeping their cards close to their chests. CoinDesk reached out to both parties for comment, but they remained as silent as a ninja on a stealth mission. Ah, the mystery and intrigue of the crypto world!

So, there you have it, fellow crypto enthusiasts. Bithumb is ready to rock the South Korean stock market, Upbit is causing a storm, and the crypto drama in South Korea is hotter than ever. Buckle up and keep an eye out for more news because this crypto rollercoaster is just getting started!

Read More: South Korea’s Crypto Ecosystem Shakes Off Terra Debacle, With Gaming Dominating Web3 Activity

Stay tuned for exciting updates, and as always, happy investing, crypto warriors!

Edited by Sheldon Reback.

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