Crypto Exchange Slump Hits Bithumb Loss and Dunamu Profit Drop

In the first quarter of this year, South Korea’s two major virtual asset exchanges, Bithumb and Dunamu, were hit directly by the market slowdown. As trading value in virtual assets fell sharply, fee income declined, sending Bithumb into a loss and cutting Dunamu’s revenue by half. Dunamu’s operating profit was also reported to have dropped 78%. Amid the prolonged “crypto winter,” exchanges are shifting from external growth toward strengthening fundamentals. With trading activity emerging as the key factor for earnings recovery, the burden of a business model highly dependent on fees has again come into focus. Source: mk.co.kr.