Upbit operator Dunamu reported a rise in success for the 3rd quarter of the year, publishing 239 billion won ($ 165 million) in earnings.
The figure marks a boost of more than 300% compared to the exact same duration in 2015, which stood at $40 million, regional news outlet Chosun Biz reported, mentioning regulative filings with the Financial Supervisory Service.
The filing apparently revealed strong momentum throughout all essential metrics. Consolidated income reached $266 million, up 35% from the previous quarter, while running earnings increased 54% to $162 million. Earnings likewise leapt 145% quarter-over-quarter from $67 million.
The business associated its enhanced efficiency to increasing trading activity as worldwide digital possession markets rebounded through 2024 and 2025.
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Dunamu credits United States crypto costs for increase
Dunamu stated financier self-confidence got an increase following regulative advancements in the United States, consisting of the passage of the Genius Act, the Clearness Act and the Anti-CBDC Expense. These steps, the business stated, added to restored institutional involvement and steadier market conditions.
Dunamu has actually dealt with increased reporting requirements given that 2022, when it was contributed to the list of corporations based on external audit due to having more than 500 investors.
Significantly, a number of significant crypto companies experienced an income boost last quarter. Bitcoin mining business TeraWulf and Singapore-based cloud Bitcoin miner BitFuFu doubled their third-quarter income from the previous year.
Related: South Korea increases crypto seizures, will target cold wallets
Naver Financial to get Dunamu
As Cointelegraph reported, Naver Financial, the fintech arm of South Korea’s biggest web business, is preparing to get Dunamu. Naver apparently prepares to bring Dunamu in as a subsidiary through a share swap, with board approvals anticipated quickly.
Upbit Korea is the biggest crypto exchange in South Korea in regards to trading volume and consumer base, according to CoinMarketCap.
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Source: Coin Telegraph.
