Upbit operator Dunamu sees 10% revenue drop to $1 billion in 2025 as crypto trading cools
Dunamu, Upbit's operator, reported a 10% revenue drop to $1.03 billion in 2025 due to cooling crypto trading volumes.Summary
Dunamu, the operator of South Korean crypto exchange Upbit, reported a 10% decline in consolidated operating revenue for 2025, falling to 1.56 trillion won ($1.03 billion) from 1.73 trillion won in 2024, driven by lower cryptocurrency trading volumes. Consequently, operating profit fell by 26.7% and net profit by 27.9%. Trading platform commissions accounted for 98.3% of total revenue. The company's total assets also decreased, largely due to a decline in customer deposits. Dunamu, established in 2012, is expanding beyond its core exchange services into areas like NFTs and staking. Furthermore, Dunamu is currently involved in a share-swap merger with Naver Financial, which was recently postponed by three months, while the company also plans to pursue a Nasdaq IPO.
(Source：The Block)