Crypto exchange Bithumb to spin off investment arm ahead of potential Nasdaq listing

“The South Korean exchange of Bithumb cryptocurrencies seems to restructure its investment and its detention units while it plans to carry out a long-awaited public offer.

Crypto exchange Bithumb will separate its detention and investment activities in a new company this summer as part of a wider plan to prepare for potential Nasdaq Listing, according to exchanges regulatory deposit.

The split of the company, scheduled for July 31 according to a notice to shareholders, will create a new company called Bithumb A which includes Bithumb Holdings and Bithumb Investment. In the file, Bithumb said that split will help manage the risks and sharpen the commercial orientation of each unit. Bithumb Korea, which exploits the exchange, will remain under the current structure.

The shareholders will vote on the plan during an assembly on June 12, indicates the file. In the file, Bithumb explained that he plans to become a public not only in Korea but also abroad, adding that he “examines” a potential list on the Nasdaq, although she did not explain the question. The new entity, nicknamed “Bithumb A”, will include several national and foreign subsidiaries.

This decision follows Bithumb release From its 2024 financial results, which showed a positive dynamic of the previous year. The company posted an operating profit of 130.7 billion won (approximately $ 90.1 million), overturning an operating loss of 14.8 billion won in 2023. The income increased from 265.4% in annual sliding to 496.3 billion won. Bithumb awarded the rise in power to the resumption of the cryptography market.

Solid results arise despite legal problems involving the former Bithumb leadership. At the end of March, South Korean prosecutors fishing The headquarters of the exchange concerning allegations according to which the funds of the company were used by its ex-CEO to buy an apartment.