Upbit, Korea’s Largest Trading Platform, Earns $100 Mln Despite Deep Red Market

  • Yuri Molchan
    📰 News

    Repository of Korea’s Corporate Filings reports that Upbit has made almost three times as much as Bithumb, the second largest crypto exchange in the country


Upbit, Korea’s Largest Trading Platform, Earns $100 Mln Despite Deep Red Market

Repository of Korea’s Corporate Filings reports that Upbit has made almost three times as much as Bithumb, the second largest exchange in the country. This is quite a huge profit since the launch of the company last year- $100 mln.

In 2017, Bithumb officially submitted reports on profits equalling $400 mln and this year it has dropped to just $39 mln. Experts reckon that the general decline of the crypto market is hardly the reason for this. Rather, this is due to the hack that Bithumb encountered in June, losing about $40 mln.

Cover image via u.today
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About the author

Yuri has worked in crypto since 2017. A translator, quickly became a crypto enthusiast. He has worked for several Telegram channels covering cryptocurrencies. Currently is a news writer, covering crypto and blockchain-related topics.

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