Bithumb Splits Business as It Eyes Late 2025 IPO

Amid rising regulatory pressure and political uncertainty in South Korea’s crypto sector, Bithumb is restructuring its business in a strategic move ahead of a planned IPO.

By July 31, the exchange will spin off its non-core operations into a new entity, “Bithumb A,” leaving the main platform with a 56% stake and the new company with 44%. The split aims to shield Bithumb’s core trading business from external risks and streamline its path toward public listing.

The IPO is targeted for late 2025, with Samsung Securities as lead underwriter. While a domestic listing is the likely choice, a Nasdaq debut remains under consideration.

This comes after a strong 2024 performance, with Bithumb reporting $110 million in net profits—a sharp rebound, though still behind rival Upbit.

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Despite financial gains, Bithumb has faced mounting regulatory issues, including a KYC-related suspension and sanctions on parent company Dunamu. By separating its operations, the exchange hopes to navigate compliance hurdles more effectively while strengthening investor appeal.

Whether Bithumb’s listing lands in Seoul or on Wall Street, the company is signaling its ambition to become a major global force in crypto.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.