- Dunamu, operator of South Korea’s largest crypto exchange, reported a third-quarter net income of $165 million, a 300% increase year-over-year.
- Consolidated revenue rose 35% to $266 million and operating profit increased 54% to $162 million compared to the previous quarter.
- Enhanced trading activity and positive regulatory developments, including the U.S. Genius Act and Clarity Act, supported the financial growth.
- Naver Financial is preparing to acquire Dunamu through a share swap pending board approval.
- Major crypto companies like TeraWulf and BitFuFu also experienced significant revenue growth in the same period.
Dunamu, South Korea’s largest cryptocurrency exchange operator, reported a net income of approximately $165 million for the third quarter, marking over a 300% increase from $40 million in the previous year, according to regulatory filings with the Financial Supervisory Service. This earnings growth corresponds with a rise in trading activity amid a broader rebound in global digital asset markets in 2024 and 2025.
The company’s consolidated revenue climbed to $266 million in the quarter, a 35% increase over the prior quarter, while operating profit reached $162 million, up 54%. Net income also surged by 145% from the previous quarter’s $67 million. Dunamu attributed this strong performance to increased market participation and favorable regulatory trends.
Investor confidence was bolstered by recent U.S. regulatory measures such as the Genius Act, Clarity Act, and the Anti-CBDC Bill. These legislations have encouraged institutional involvement and contributed to steadier market conditions. Since 2022, Dunamu has been subject to more rigorous external audits due to having over 500 shareholders.
Other major crypto firms also reported substantial revenue increases for the same quarter. For example, Bitcoin mining companies TeraWulf and Singapore-based cloud miner BitFuFu both doubled their third-quarter revenue compared to the previous year.
In a significant corporate development, Naver Financial, the fintech division of South Korea’s largest internet company, is set to acquire Dunamu. The acquisition will be conducted via a share swap, with board approvals anticipated soon. Upbit Korea, operated by Dunamu, remains the top crypto exchange in South Korea by trading volume and customer base, as reported on CoinMarketCap.
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