In 2024, South Korean crypto exchange Bithumb achieved a net profit of approximately 147 billion KRW, marking a 560% increase from the previous year.

This surge was driven by a recovering global crypto market, rising Bitcoin prices, and increased institutional investment from the U.S. The growth signals a rebound from past setbacks, including major hacks and legal issues between 2018 and 2020.

Bithumb has since rebuilt trust through partnerships with traditional banks like KB Kookmin Bank.

Now, the company is preparing for an IPO in late 2025, potentially eyeing a Nasdaq listing.

Meanwhile, rival Upbit significantly outperformed Bithumb with a 900 billion KRW profit in the same year.