The business most resembling traditional finance is also subject to cycles, just like traditional finance.
By: Xiao Bing
South Korea’s two largest crypto exchanges simultaneously submitted nearly symmetrical decline report cards.
On August 14, Upbit’s parent company Dunamu submitted its first-half 2026 report to the Financial Supervisory Service (FSS) Electronic Disclosure System. On the same day, Bithumb’s semi-annual report also surfaced. Looking at the two financial reports together, they look like two angles of the same ebbing tide.
Dunamu’s consolidated operating revenue for the first half was 408.1 billion KRW, a year-on-year decrease of 49.1%; operating profit was 111.5 billion KRW, a year-on-year decrease of 79.7%; net profit was…
