Dunamu Blames Reduced Trading Volume for 78% Q1 Profit Slowdown
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Dunamu blames reduced trading volume for 78% Q1 profit slowdown
Dunamu recently disclosed a 78% year-on-year decline in operating profit for the first quarter of 2026. The company recorded 88 billion won ($60 million) due to reduced trading volumes affecting fee revenue. Even with the drop in revenue, Hana Financial Group confirmed a 1 trillion won ($669 million) acquisition of a 6.55% stake in Dunamu, the operator of South Korea’s largest crypto exchange, Upbit. Why is Dunamu’s profit down in Q1 2026? Du…
Upbit operator Dunamu reports 78% profit drop amid cooling crypto market
Dunamu's profit drop highlights the vulnerability of crypto exchanges to market fluctuations, emphasizing the need for diversified revenue streams. The post Upbit operator Dunamu reports 78% profit drop amid cooling crypto market appeared first on Crypto Briefing.
According to ChainCatcher, citing Asia Economy, Upbit operator Dunamu disclosed that its consolidated revenue for the first quarter of 2026 was approximately $157 million, a year-on-year decrease of 55%; operating profit was approximately $59 million, a year-on-year decrease of 78%; and net profit was approximately $46.6 million, a year-on-year decrease of 78%. Dunamu stated that the decline in performance was mainly due to the global economic s…
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