In the wake of a tempestuous 2023, Bithumb, that illustrious titan of cryptocurrency, has emerged from the shadows, brandishing a staggering 565% increase in net profit for 2024. Ah, the sweet scent of recovery wafts through the air, buoyed by the gentle caress of improved investor sentiment. Who knew the market could be so forgiving? 🌈
Our dear South Korean exchange, Bithumb, has danced back into the realm of profitability, with revenue soaring by a jaw-dropping 265.4% year-over-year, as reported by the ever-watchful News1, citing the sacred scrolls of the Financial Supervisory Service’s electronic disclosure system. 📈
In a remarkable twist of fate, Bithumb reported an operating profit of 130.7 billion won (around $90.1 million) last year, a phoenix rising from the ashes of a 14.8 billion won operating loss in 2023. Net profit for 2024 has rocketed to 161.8 billion won (nearly $111.2 million), a figure that would make even the most stoic accountant weep with joy. 😢💸
Revenue, that elusive specter, reached a staggering 496.3 billion won, reflecting a 265.4% increase from the previous year. Bithumb attributes this miraculous turnaround to the overall recovery of the cryptocurrency market and the newfound optimism of investors. Who knew optimism could be so profitable? 🤷♂️
Yet, amidst this financial jubilation, shadows loom. Reports of discord between Bithumb’s former management and the ever-watchful South Korean authorities have surfaced. As crypto.news has revealed, prosecutors raided Bithumb’s headquarters in late March, investigating claims that the exchange’s funds were used to assist its former CEO in acquiring a rather luxurious apartment. 🏢
Whispers in the wind suggest that Bithumb may have bestowed upon former CEO Kim Dae-sik, now an advisor, a 3 billion won (about $2.4 million) lease deposit, which could have been a rather generous gift for his personal property purchase. Ah, the tangled web of finance and ambition! 🕸️
Read More
- Clash Royale Best Boss Bandit Champion decks
- Mobile Legends November 2025 Leaks: Upcoming new heroes, skins, events and more
- The John Wick spinoff ‘Ballerina’ slays with style, but its dialogue has two left feet
- Kingdom Rush Battles Tower Tier List
- Delta Force Best Settings and Sensitivity Guide
- Stocks stay snoozy as Moody’s drops U.S. credit—guess we’re all just waiting for the crash
- Bentley Delivers Largest Fleet of Bespoke Flying Spurs to Galaxy Macau
- PUBG Mobile or BGMI A16 Royale Pass Leaks: Upcoming skins and rewards
- Vampire’s Fall 2 redeem codes and how to use them (June 2025)
- Clash of Clans: How to beat the Fully Staffed Challenge
2025-03-31 13:56