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

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Fri, 24/08/2018 - 15:31
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Upbit, Korea’s Largest Trading Platform, Earns $100 Mln Despite Deep Red Market
Cover image via U.Today
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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.

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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.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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