Crypto Firms Are Struggling in South Korea

Bithumb Swings to $77M Loss as Upbit Revenue Halves

How Sharp Was The First-Half Decline? South Korea’s two largest cryptocurrency exchanges, Upbit and Bithumb, reported steep declines in first-half revenue and profit as weaker digital asset prices and lower trading activity cut into their core businesses. Upbit parent Dunamu reported consolidated operating revenue of 408.1 billion won ($289 million) for the first half of 2026, down 49.1% from 801.9 billion won ($568 million) a year earlier, acco…

Upbit and Bithumb Post Brutal Revenue Drops as South Korea's Crypto Market Cools

South Korea’s two biggest crypto exchanges are bleeding. Upbit and Bithumb both reported sharp revenue declines in the first half… Read the original on Upbit and Bithumb Post Brutal Revenue Drops as South Korea’s Crypto Market Cools. For more crypto news and analysis, visit TheCurrencyAnalytics.com.

Crypto firms are struggling in South Korea

South Korean crypto exchanges Upbit and Bithumb have seen revenues plummet in the first half of the year amid a wider downturn for crypto companies in the country. Meanwhile, South Korea has also banned prediction market Polymarket after concluding that its operations constitute illegal gambling.   The Block reports that Bithumb recorded an operating profit of 14.9 billion won ($11 million), down 83% from last year’s profit of 90.1 billion won (…

Upbit 和 Bithumb 上半年营收均降约 50%，韩国加密交易市场持续收缩

ChainCatcher 消息，据 The Block 报道，韩国两大加密交易所 Upbit 和 Bithumb 发布 2026 年上半年财报，受加密市场低迷影响，两家交易所营收和利润均出现大幅下滑。 Upbit 母公司 Dunamu 上半年营收 4081 亿韩元（约 2.89 亿美元），同比下降 49.1%；营业利润 1115 亿韩元，同比下降 79.7%；净利润 1084 亿韩元，同比下降 74.1%。Bithumb 上半年营收 1688 亿韩元，同比下降 48.7%；营业利润 149 亿韩元，同比下降 83.4%，净亏损 1087 亿韩元，去年同期为净利润 550 亿韩元。 报告期内，比特币从约 9...

Upbit and Bithumb report 50% declines in H1 revenue, reflecting market contraction

Investor capital in South Korea largely shifted toward domestic equities, with the benchmark KOSPI more than doubling in H1 2026.