Picture this: Bithumb, South Korea’s crypto carnival, decides it’s time for a little heart surgery—cutting itself clean in two—just to impress some investors. IPO, anyone? 🤡
Bithumb’s Corporate Split Sets Stage for IPO
The local grapevine whispers that Bithumb, South Korea’s beloved crypto exchange, is shaking things up ahead of its grand IPO debut in the latter half of 2025. The company announced it’s whipping out the scissors, snipping its non-exchange parts and naming the new creation Bithumb A. This little newbie will start strutting its stuff from July 31, 2025.
What’s inside Bithumb A, you ask? Oh, just the investment, holding, and shiny new business bits—the ‘fun stuff’—while the original Bithumb sticks to what it knows best: swapping cryptocurrencies like a pro. Why the split? To dodge the gremlins lurking in non-core activities and make everything run smoother than a buttered otter. Shareholders? They get to keep their slice of both pies – lucky them! 🥧
Samsung Securities is calling shotgun as the lead underwriter for this IPO joyride. Bithumb is flirting with the idea of parking on South Korea’s KOSDAQ or maybe even going big-time with a dual-listing on Nasdaq in the U.S.—because why not? They tried KOSDAQ before in 2020 but bailed when regulations turned into a bureaucratic nightmare. Classic!
Now, here’s some juicy numbers: in 2024, Bithumb pulled in a cool $110 million profit—a whopping 560% jump from the year before. Yet, it still plays second fiddle to Upbit, the market’s reigning giant. To put it in perspective, in just one day, Upbit juggled $2.24 billion in trades while Bithumb managed a modest $934.77 million, according to coinmarketcap.com. Not bad, but room for improvement! 💸
This whole shuffle is Bithumb’s way of saying, “Look, investors, we’re as neat and tidy as your grandma’s attic!” They want to separate the core from the chaos, making themselves look like the good clean-cut crypto kids next door.
Of course, before anyone pops the champagne, this spin-off and IPO cabaret needs a thumbs-up from shareholders and some nods from regulatory bigwigs. No official party date yet—just a vague promise for the second half of 2025. Stay tuned, folks! 🍿
Read More
- ZEREBRO PREDICTION. ZEREBRO cryptocurrency
- AXS PREDICTION. AXS cryptocurrency
- DOT PREDICTION. DOT cryptocurrency
- Cardano Bulls Unleash Secret Weapon to Spark Price Surge!
- BTC PREDICTION. BTC cryptocurrency
- SEI PREDICTION. SEI cryptocurrency
- Why Consensus 2025 Could Make or Break Pi Network: The Scoop You Can’t Miss!
- VANRY PREDICTION. VANRY cryptocurrency
- PROMPT PREDICTION. PROMPT cryptocurrency
- INJ PREDICTION. INJ cryptocurrency
2025-04-22 16:57