South Korean cryptocurrency exchange Bithumb is planning to go public on the Korean Securities Dealers Automated Quotations (KOSDAQ) through an Initial Public Offering (IPO) in 2025. This move is part of Bithumb’s expansion strategy and aims to position the exchange as a strong competitor against Upbit, a major player in the country’s cryptocurrency market. Bithumb has chosen Samsung Securities as its underwriter for the IPO and is considering extending the listing to the KOSPI market. The exchange, which has a spot trading volume of nearly $650 million, intends to use the IPO to rebuild public trust by subjecting its governance processes and management to external verification. This decision comes after Bithumb faced challenges related to its leadership, including a fraud case involving the former Chairman and a cryptocurrency scandal involving a Korean lawmaker. Bithumb Holdings, the parent company, has restructured its leadership team in preparation for the IPO, with the former Chairman being reinstated as a registered director and a new CEO taking over. This leadership reshuffle demonstrates Bithumb’s commitment to rebuilding public confidence and emphasizes the company’s focus on ethical management practices.

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Information	Details
Geography	Asia
Countries
Sentiment	neutral
Relevance Score	1
People	Lee Jung-hoon, Kang Jong-hyun, Jaewon Lee
Companies	Samsung Securities, KOSDAQ, Bithumb, KOSPI, Upbit
Currencies	None
Securities	None